A decision for the termination of Greece’s IMF program was taken jointly in order to avoid administrative costs related to the program, according to a Greek finance ministry official on Tuesday.
Meanwhile, the IMF press officer for Greece, Andreas Adriano, said: "The IMF confirms that the 2012 program has been terminated since January 2016 after a demand of the Greek authorities."
This program expired at the end of March and the government has already applied for a new program. In case of an agreement, the IMF will prepare a new detailed plan under the name Memorandum of Economic and Financial Policies (MEFP), or Memorandum of Economic and Financial Policies.
Furthermore, the technical staff-members of Greece's institutional creditors are expected to return to Athens for discussions on the fiscal gap, pension reforms, tax issues and the issue of non-performing loans.