It is reported that the negotiations between the International Monetary Fund delegation and the government are not progressing, and that the IMF is unwilling to accept the government’s position that its reacquisition of the power supply companies from Union Fenosa will not affect the country’s debt burden. The IMF commissioned research by independent experts, which concluded that this measure would increase public debt and the government’s ongoing commitments. The IMF had suspended its disbursements as part of the standby agreement, following the surprise news of the buyback of the companies known as the “Edes” – an undertaking for which the international body was not consulted. According to a report in Hoy newspaper, both sides are refusing to budge from their respective positions. <\/p>\n","protected":false},"excerpt":{"rendered":"
It is reported that the negotiations between the International Monetary Fund delegation and the government are not progressing, and that the IMF is unwilling to accept the government’s position that its reacquisition of the power supply companies from Union Fenosa will not affect the country’s debt burden. The IMF commissioned research by independent experts, which … <\/p>\n