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IMF / GREECE
STORY: IMF / GREECE
TRT: 01:49
SOURCE: IMF
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS
DATELINE: 19 MAY 2016, WASHINGTON DC
RECENT – WASHINGTON DC
1. Med shot, IMF exterior
19 MAY 2016, WASHINGTON DC
2. SOUNDBITE (English) Gerry Rice, Chief Spokesperson, International Monetary Fund (IMF):
“Greece is not currently under a program with the IMF, though we have been and continue to be fully engaged with discussions.”
3. Med shot, reporters
4. SOUNDBITE (English) Gerry Rice, Chief Spokesperson, International Monetary Fund (IMF):
“We welcome the recent progress made by the Eurogroup and the Greek authorities toward agreeing on a package that could pave the way to completion of that first review under the ESM program. The discussions, as I said, are ongoing on the key elements of the package including the policies supporting the fiscal targets and debt relief.”
5. Med shot, reporters
6. SOUNDBITE (English) Gerry Rice, Chief Spokesperson, International Monetary Fund (IMF):
“We very much welcome the start of these discussions on debt relief which are a critical component of the overall package for Greece. As you know, the IMF has put this issue on the table - it was almost a year ago - so we see again, we welcome that the discussions on this have now begun on this issue. So we see that as a positive development.”
7. Med shot, reporters
8. SOUNDBITE (English) Gerry Rice, Chief Spokesperson, International Monetary Fund (IMF):
“We don’t want more austerity for Greece and we certainly don’t want more of the burden to fall on the poor and the most vulnerable.”
RECENT – WASHINGTON DC
9. Wide shot, IMF exterior
The International Monetary Fund (IMF) said Thursday (19 May ) that if it were to participate in a new program with Greece, there would need to be both credible policies in the country and sufficient debt relief from its European partners.
IMF spokesperson Gerry Rice said, “Greece is not currently under a program with the IMF, though we have been and will continue to be fully engaged with discussions.”
Next week, the Eurogroup will meet on the Greek program and try to agree on a restructuring plan that could open the way for IMF participation. IMF European Department Director Poul Thomsen will represent the IMF at the talks.
Rice said, “We welcome the recent progress made by the Eurogroup and the Greek authorities toward agreeing on a package that could pave the way to completion of that first review under the ESM program. The discussions, as I said, are ongoing on the key elements of the package including the policies supporting the fiscal targets and debt relief.”
The spokesperson said it is possible to provide debt relief without creditors taking big losses, or haircuts, on the debt by extending grace and maturity periods at very low interest rates.
He said, “We very much welcome the start of these discussions on debt relief which are a critical component of the overall package for Greece. As you know, the IMF has put this issue on the table - it was almost a year ago - so we see again, we welcome that the discussions on this have now begun on this issue. So we see that as a positive development.”
Rice said IMF staff are ready to take a program to the Executive Board for approval when there is an agreement that includes both debt relief and policies that meet fiscal targets. He added, “We don’t want more austerity for Greece. We certainly don’t want more of the burden to fall on the poor and the most vulnerable.”
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