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WORLD NEWS Tuesday 16 april 2019

Greece looks to repay IMF early as bond yields tumble

By DEREK GATOPOULOS in 14 years. Greece would in society,” he told private
Associated Press need approval from the News 24/7 radio.
ATHENS, Greece (AP) — eurozone’s rescue fund Tsipras said later Monday
The Greek government on to repay its IMF loans ear- that the early IMF loan re-
Monday said it is in talks with ly, but top officials in the payment would be an im-
European bailout lenders agency and the European portant step forward.
to repay its debts to the In- Commission have already He also pledged that if his
ternational Monetary Fund praised the idea. Syriza party wins parliamen-
early as market borrowing The left-wing government tary elections when its man-
rates have tumbled to their in Greece — facing nation- date expires in October, it
lowest level since 2005. al, municipal and Europe- will dodge a commitment
And Prime Minister Alexis an elections this year — is to boost tax revenues by
Tsipras said he was deter- planning to boost funding reducing the income-tax-
mined to spare austerity- for social programs with the free threshold.
weary Greeks a further in- money eventually saved “The tax-free threshold will
crease in tax pain that has International Monetary Fund (IMF) Managing Director Christine from the cheaper loan re- not be cut as long as Syriza
been agreed with bailout Lagarde speaks during a news conference after the International payment, Tzanakopoulos is in government,” he said
Monetary and Financial Committee (IMFC) conference at the
creditors for next year. World Bank/IMF Spring Meetings in Washington, Saturday, April said. in an interview with private
Government spokesman 13, 2019. “The IMF loans are expen- Antenna TV.
Dimitris Tzanakopoulos said Associated Press sive, with an interest rate of Tsipras’ government has
Athens is hoping to repay His remarks follow a meet- tine Lagarde. 5.1% — so that means we committed to improve tax
a “significant portion” of its ing in Washington between The yield on Greece’s 10- can lower debt servicing revenues by about a billion
remaining 9.6 billion euros Greek Finance Minister year bond dropped fur- costs and we will have an euros through the measure
($10.9 billion) owed to the Euclid Tsakalotos and IMF ther to 3.28% on Monday, increase in the fiscal space due to be implemented
IMF ahead of schedule. managing director Chris- matching levels not seen to help vulnerable groups next year.q

Polish govt has no money to meet striking teachers’ demands

Associated Press benefits to its traditional of GDP, the promises of new
WARSAW, Poland (AP) — groups of backers — large money in the runup to the
A nationwide strike of Po- families and pensioners elections to the European
land’s teachers entered its — says it has only enough Parliament in May and of
second week Monday with money for half that amount the general elections in the
the government saying it and refuses to discuss any- fall, have prevailed over fis-
has no more funds to meet thing more, in a clear sign cal discipline. The bonuses
their pay demands after of- its policy has reached its promised this year by ruling
fering generous benefits to limits. “There is no money in party leader Jaroslaw Kac-
various other groups. The the 2019 state budget for zynski amounts to some 20
teachers are demanding the increases to be high- billion zlotys ($5 billion.) The
a 30% raise this year, saying Warsaw residents gathered in the city’s Old Town to show er,” said Education Minister head of the main teachers
they mostly earn less than support for the striking teachers’ whose nationwide pay protest Anna Zalewska. The decla- union, ZNP, Slawomir Bro-
a supermarket cashier. But has been going for five days without any signs the government ration is a sign that, after an niarz, said the strikers were
the right-wing government, could grant their demands, in Warsaw, Poland, Friday, April 12, easy 2018 budget when Po- not accepting Zalewska’s
which is paying generous 2019. land’s deficit was only 0.5% words. q
Associated Press