IMF officials visit Athens

Two delegations of the IMF will arrive in Athens today, to review the progress made by Greece in implementing its fiscal austerity measures. The delegations, which were requested by the Greek authorities to help them consolidate the budget and fight tax evasion, will be located 2 weeks in Athens and will meet with the Minister of Finance, George Papaconstantinou.

Greek officials said this was not a verification by the IMF, but rather a technical mission, requested by Athens.

Last month, the European Union and IMF last month agreed on a financial package intended to help Greece, but only as a last resort solution to be used if the Greek government would need help paying off its debt.

According to Greek press, the authorities in Athens want to amend the aid which they agreed on in March, in order to avoid having to implement the stringent fiscal measures required by the IMF. According to Greek publications, Greek PM George Papandreou fears further social unrest if the conditions of the IMF are implemented. Under these circumstances, Papandreou would like to avoid the involvement of the IMF in the aid plan.

British daily Financial Times yesterday informed that Greece wanted to target American investors for its bonds. According to the aforementioned source, Greece will launch a multibillion dollar bonds issue on the US market, with may be managed by "Morgan Stanley".

Financial Times noted that the Greek Finance Minister, George Papaconstantinou, will begin a roadshow in the United States, after April 20, to promote its bonds.

Greece still needs 5-10 billion Euros, money which it hopes it will raise from selling bonds, in order to cover its debts which are falling due next month.