IIF welcomes progress on Greek program

The Institute for International Finance has issued a statement welcoming the progress made in talks between the eurozone and Greece regarding its new program and said it hopes for an agreement next Wednesday, when eurozone finance ministers are due to meet to decide if Athens qualifies for a new bailout. Wednesday’s meeting will also decide if the Greece’s debt restructuring scheme, or Private Sector Involvement (PSI), goes ahead. “We welcome the progress that has been achieved on the overall Greek program. We look forward to the finalization of the entire package, including the PSI, on the basis of the agreement that was reached at the Eurogroup Summit last October 27, when the Eurogroup meets next Wednesday,» said an IIF spokesman. IIF Managing Director Charles Dallara was in Brussels Thursday.