US Treasury

The president of Republika Srpska, Milorad Dodik, hit back on Wednesday after sanctions were imposed on him by the US Treasury, declaring the US ambassador to Bosnia and Herzegovina, Maureen Cormack, "a proven enemy" of the Bosnian Serbs who was "unwelcome in Republika Srpska".

The US Treasury has sanctioned President of Republika Srpska, Milorad Dodik, for obstructing the peace agreement that ended the war of 1992 to 1995 by defying the orders of Bosnia's Constitutional Court.

Greek officials are hoping to secure a public expression of support for debt relief from outgoing US President Barack Obama when he visits Athens next week, with government spokesman Dimitris Tzanakopoulos on Friday underlining the "extremely significant" role of the US in global economic developments.

US Treasury Secretary Jack Lew on Friday pressed Greek Finance Minister Euclid Tsakalotos to push for a swift conclusion to Greece's current bailout review so talks can be launched on finally relieving some of the country's debt burden.

The management of the Greek public debt continues to fuel tensions between the IMF and Germany, as the former, via Christine Lagarde, reiterated once more that any prospect of the Fund staying on board the Greek bailout program would be dependent on a debt restructuring.

US Treasury Secretary Jack Lew insisted Thursday that restructuring is the only answer to Greece's unsustainable debt.

Speaking during an event at the Peterson Institute for International Economics in Washington DC, Lew said that "the only consistent answer to a non-sustainable debt is its restructuring."

US Treasury Secretary Jack Lew underlined the need for Greece and its creditors (EU and IMF) to work constructively together in order to complete the first program review during his phone contact with Greek PM Alexis Tsipras.

Greek Finance Minister Euclid Tsakalotos had a series of meetings in Washington during the IMF-World Bank summit in an effort to present his views on the progress of negotiations between the country and its lenders. On the sidelines of the Summit, Tsakalotos met with IMF Director Christine Lagarde and agreed that the IMF representatives would return to Athens next week.

The Islamic State of Iraq and the Levant's (ISIL) battle-tested equivalent of a defense minister is believed to have been killed in a US air strike in northeastern Syria, a US official said March 8.

Prime Minister Alexis Tsipras arrived at Davos to participate in the World Economic Forum which will be held on Wednesday and Thursday along with more 2500 participants.