October 7, 2016
Washington – U.S. Treasury Secretary Jacob J. Lew met today with Greek Finance Minister Euclid Tsakalotos at the 2016 Annual Meetings of the International Monetary Fund (IMF) and World Bank Group.
During their conversation, Secretary Lew and Minister Tsakalotos discussed the progress that Greece has made in its reform efforts since the Ministers last met in July in Athens. Secretary Lew underscored the importance of Greece continuing to implement the measures that have already been passed and completing the next set of milestones due in October, including by following through on privatization plans and moving forward with critical financial sector reforms.
Secretary Lew added that progress on reforms is also important so that European leaders can begin discussing with the IMF the timing and details of meaningful debt relief, which the Eurogroup committed to in May. The Secretary emphasized that Europe follow through on its commitment to put Greece’s debt on a sustainable path through meaningful debt relief, which should be underpinned by credible growth and fiscal assumptions critical to Greece’s long-term economic health. He encouraged all parties to work toward practical solutions to successfully conclude this fall’s negotiations.
Secretary Lew emphasized that rapid progress on pro-business reforms – including the privatization program and structural reforms in product and service markets – could pave the way to a positive cycle that reinforces growth and investment.