EU, IMF inspectors in Greece to evaluate debt progress

ATHENS, - Greece may not sell its full stake in gaming monopoly OPAP (OPAr.AT), the key asset on the 2011 privatisation list, but it still plans to meet revenue targets set by the EU and the IMF, the finance minister said.

Debt-choked Greece has agreed with its international lenders to sell its 34 percent stake in Europe's biggest betting company in the fourth quarter of this year, as part of a drive to raise 50 billion euros from privatisations by 2015.

But contrary to what is stipulated in the EU and IMF reports, Venizelos said Greece might not sell the stake because there could be alternative ways to raise money from the company.

"We have not pledged to sell OPAP; we have pledged that we will have revenues from OPAP (to reduce) the public debt," Venizelos told lawmakers. "The cabinet will appraise what is the best way to raise the revenues targeted.

Greek daily newspaper Kathimerini said senior representatives from Greece's foreigner lenders are expected in Athens by mid-August.

Eurozone leaders agreed to easier lending terms and a new 109-billion-euro (157-billion-dollar) bailout for the debt-ridden country earlier this month.

Athens has also promised to make good on its decision to sell off 50 billion euros worth of state assets by 2015, including 5 billion this year.

The new bailout comes in addition to the 110-billion-euro bailout that Athens secured from eurozone partners and the IMF last year.

Eurozone ministers decided that private investors will swap Greek bonds for longer maturities at lower interest rates.

The Greek Finance Ministry said procedures for a voluntary swap, which will begin in August, should be completed the following month.