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Greece resumes talks with EU-IMF creditors

11 December 2013, 18:23 CET
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(ATHENS) - Greece on Wednesday resumed talks with its international creditors, whose report on the country's progress in implementing reforms will determine the release of a vital slice from its rescue loans.

The first meeting between the mission chiefs from the so-called troika of EU, IMF and European Central Bank creditors and Greek Finance Minister Yannis Stournaras started shortly after 1330 GMT.

The troika is expected to meet Development Minister Costis Hadzidakis later in the day and hold more talks with other ministers in charge of reforms on Thursday.

The troika's arrival coincided with a 24-hour strike staged by hospital doctors, who gathered in front of the health ministry protesting against hospital mergers.

Athens and its creditors disagree on the level of a forecasted financing gap for 2014 and the measures that need to be taken to cover it.

Other thorny issues include a new property tax, seized property auctions, state jobs layoffs and the slow pace of privatisation.

The resumption of talks -- which first began in September and have been suspended three times so far -- follows confusion over the dates of the troika's return to Athens.

An agreement with creditors is necessary to unblock a tranche of financial aid worth one-billion-euro ($1.4 billion) pending since June.

On Monday, Stournaras said the troika will spend at least a week in Athens and will return in January if necessary.

The heavily indebted country is relying on EU-IMF rescue loans for its economic survival.

Greece is facing a sixth year of recession and unemployment reached 27.4 percent in September up from 26 percent in the same month last year.


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