Greece's creditors mull new reform plans

Related Topics
image copyrightReuters

Greece's creditors are studying new reform plans put forward by Prime Minister Alexis Tsipras' government in a bid to secure further bailout funds.

Greece, which submitted the proposals on Friday night, says the plans will raise €3bn (£2.2bn; $3.3bn) in state revenues for the cash-strapped country.

The plan includes moves to combat tax evasion, more privatisations and higher taxes on alcohol and cigarettes.

Greece fears it will run out of cash in April if bailout money is not released.

International creditors have suggested they are ready to extend help on Greece's €240bn (£176bn; $272bn) bailout until the end of June.

But Mr Tsipras's earlier reform plans met resistance from EU leaders, with Germany among the most critical.

Officials from the EU, the International Monetary Fund (IMF) and the European Central Bank (ECB) are examining the proposals this weekend, with a response expected in the coming week.

The Greek government said the 18-point reform programme did not include any "recessionary measures".

In an interview with the Greek newspaper Real News, Mr Tsipras complained of the country's "liquidity problem", but added: "I believe that will be tackled immediately once we reach an agreement over reforms."