News Headline Summary

IMF says lower rates on EFSF loans to Greece are a possibility

- Expects more measures to cut Greek debt by 2020, 2022.
- Recommends rates close to zero on bilateral Greek loans.
- Greek fiscal position continues to improve.
- Greece making progress and the program is back on course.
- Needs sustained, strong program implementation.

Update details:

- The comments come as part of the IMF's review on the ongoing Greek program.

Reaction details:

- EUR/USD moved 12 pips lower from 1.3312 to 1.3300 in the immediate reaction; trades 1.3301 (-74 pips) last.

Print 15:31, 18 Jan 2013 - Economic commentary - Source: Newswires