39393
Strict Plan Proposed for Greek Privatizations
World Economy

Strict Plan Proposed for Greek Privatizations

The eurozone and the International Monetary Fund are demanding the utilization of all assets in Greece’s sell-off fund TAIPED’s (Hellenic Republic Asset Development Fund) portfolio, and the immediate issue of government decisions for the implementation of the already completed tender procedures–not only for the 23 projects included in the latest Asset Development Plan, but 27 projects.
The latest draft agreement that the creditors presented to the government, which Kathimerini has seen, provides for revenues of €6.4 billion from those utilization projects by the end of 2017. This indirectly puts an end to the expectations of several cabinet members for TAIPED to stop the privatizations once it has completed nine specific projects.
This is in addition to the creation of a new hyperfund worth €50 billion, in which the latest bailout agreement provides for the inclusion of more state-owned enterprises.
Among other points, the draft agreement states that “the ADP will be updated every six months by TAIPED, and the government will adopt the plan.” TAIPED sources told Kathimerini that the ADR updating will take place after the bailout review is completed, in cooperation with the government.
As for the four state assets to be added to the 23 projects, it is believed that they likely include the regional ports, the marinas and the real estate properties that TAIPED already controls but were not included in the ADP of the bailout agreement reached last summer.
The draft agreement dictates that the Greece government will make sure potential investors stay interested and that it “is committed to facilitating the privatizations process and to implementing all the necessary actions that will allow for the successful completion of the tenders.”
The creditors are also asking for detailed timetables to be submitted soon in relation to the completion of the transactions for the 14 regional airports, Piraeus Port Authority and the development of the plot of the old Athens airport at Elliniko. They are demanding that any delays in the timetable be urgently dealt with by the government.

Short URL : http://goo.gl/j5Nf38
  1. http://goo.gl/2GDA1A
  • http://goo.gl/7GWqN8
  • http://goo.gl/CpK6Xm
  • http://goo.gl/XySPOu
  • http://goo.gl/jQO5j8

You can also read ...

Malaysia Economy Set to Grow
Malaysia’s economy is set to grow this year with gross...
The high resolution MRI, CT, and sonogram images underpin advances in medical diagnosis.
The growth in labor productivity – real output per hour worked...
EU heavyweights France, Germany and Italy argue that there is growing evidence of discrimination, especially by state owned companies and a determined Chinese strategy to secure the most modern European technologies in key industrial sectors.
Both Brussels and Washington are taking steps to force China...
Based on the index  gas, fuels, water and housing, especially  sub-indexes, declined by 2.4% year on year in July.
Subdued demand due to cash shortages in Zimbabwe has resulted...
Growth is forecast at 2.2% in 2017, down from  a previous projection of 2.8%.
UAE’s real GDP growth will slow in 2017, owing to oil...
German Investor Morale Slumps
German investor confidence fell sharply in August, amid...
Pak Current A/C Deficit Widens
Pakistan posted a glaringly high current account deficit of $2...
The surge in European stocks pushed up the MSCI world equity index.
European stocks broke a three-day losing streak on Tuesday,...

Trending

Googleplus