Thursday, February 19, 2015

IMF softer on Greece than European Union?

Excerpts from 

Transcript of a Press Briefing by Gerry Rice, Director, Communications Department, International Monetary Fund on 19th  February , 2015 (Bold font added on by us to emphasize what IMF says) 

 "We've been in discussions with the Greek government together with the European Commission and the European Central Bank to better understand the new government's plans and priorities. Those discussions continue and we continue to stand ready to work with the Greek government and our European partners going forward.
...
For the IMF part, again, our extended arrangement, the EFF, continues until 2016.

...
It's a very fast-moving, fluid situation.  
...
... everyone, on all sides of this issue, is working very hard to ensure that any risks to financial stability could be minimized and addressed.  
Now, on our program, it's speculative to say whether it would be going forward on its own or with or without the Europeans. We are in the discussions right now. I think we should let those discussions conclude and then, we'd be in a position to give you a complete answer.
...
 On the debt issue, on sustainability, it falls into the same category as the overall economic situation in the sense that we haven't been on the ground to look at the details and get the technical data and make an assessment of where the economy stands, and therefore the debt sustainability analysis which would need to be updated in the context of the next review of the program."


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