Germany's Schäuble: Greece Could Secure Bailout Deal in Late May

By Ian Talley Features Dow Jones Newswires

BARI, Italy--German Finance Minister Wolfgang Schäuble said Friday Greece could secure a new bailout deal at the next Eurogroup meeting later in May, amid ongoing negotiations between Athens' financiers and an apparent softening of the International Monetary Fund's stance on debt relief.

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"I am still in favor of getting a solution, at least a political solution, at the Eurogroup meeting," on May 22, Mr. Schäuble said as he headed into a meeting of Group of Seven finance chiefs here.

A senior International Monetary Fund official signaled the shape of the developing political solution after talks between Greece's creditors ahead of the G-7 meeting Friday: The IMF appears willing to compromise on debt relief terms, but is still seeking to secure what its says are more credible economic targets.

"There is not enough clarity yet," IMF Managing Director Christine Lagarde told reporters on the sidelines of the G-7 meeting. "Our European partners need to be more specific in terms of debt relief, which is an imperative."

Write to Ian Talley at ian.talley@wsj.com

(END) Dow Jones Newswires

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May 12, 2017 06:35 ET (10:35 GMT)