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Greece appoints new representative at IMF

Xinhua, June 17, 2015 Adjust font size:

One of Greece's leading economists, Professor Michalis Psalidopoulos, was appointed as the country's new representative to the International Monetary Fund (IMF), a Greek Finance Ministry press release said on Wednesday.

The decision was made when a debt deal with international lenders to avoid a Greek default was still up in the air.

Psalidopoulos, the current president of the Center of Planning and Economic Research, one of Greece's leading think tanks, and professor at the Faculty of Economic Studies of the University of Athens, has accepted the proposal made to him by Finance Minister Yanis Varoufakis, the press statement said.

Psalidopoulos' term at IMF was due to start on June 29, according to the statement.

On June 30 Greece needs to repay to IMF about 1.5 billion euros (about 1.69 billion U.S. dollars) in delayed loan installments.

With a debt deal still pending after five months of negotiations on the set of fiscal adjustment policies and reforms needed to unlock further vital aid to Athens, the Greek government has implied it might not repay IMF again on time, fuelling concern over a looming bankruptcy and Grexit. Endit