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Government Officials and Creditors Agree on Composition of New Privatization Fund

Euro moneyAccording to sources, creditors and Greek officials have reached an agreement regarding the composition of a new privatization fund.
Reaching an agreement regarding the fund is a crucial element and condition in releasing the next loan tranche worth some 2.8 billions euros.
It appears that the creditors have accepted the three Greek officials that Athens has put forth to compose the 5-member committee. Among those five individuals is a former adviser to Prime Minister Alexis Tsipras, and academic and a banking advisor, while the creditors have proposed Jacques le Pape who once assisted Christine Lagarde while at the French Finance Ministry and a Spanish official.
A meeting is to take place on Monday where Tsipras will oversee the cabinet in determining where the government is at in fulfilling the other 15 prior actions needed to be taken in order to release the tranche fund.
It is hoped that the privatization fund’s supervisory board will be completed in the next few days prior to the Euro Working Group on Thursday in order to sign off on the tranche being released by the October 10 Eurogroup meeting.

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