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IMF / ARGENTINA GREECE PAKISTAN
STORY: IMF / ARGENTINA GREECE PAKISTAN
TRT: 2:44
SOURCE: IMF
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS
DATELINE: 01 NOVEMBER 2018, WASHINGTON, DC / RECENT
RECENT – WASHINGTON, DC
1. Wide shot, IMF building exterior
01 NOVEMBER 2018, WASHINGTON, DC
2. Wide shot, Rice approaching podium
3. Wide shot, reporters
4. SOUNDBITE (English) Gerry Rice, Spokesperson, International Monetary Fund (IMF):
“We expect those discussions to begin on November the 7th. So, an IMF staff mission will go to Islamabad and initiate discussions with the authorities. And, of course, the objectives of that programme will be to help stabilize the Pakistan economy, put in place the preconditions for sustained inclusive growth.”
5. Wide shot, reporters
6. SOUNDBITE (English) Gerry Rice, Spokesperson, International Monetary Fund (IMF):
“Clearly the name of the game now is implementation. So, we have the programme agreement. We have the measures agreed. And I think the momentum has begun. There's been good progress so far, but it's early days. So, I think the name of the game is implementation. And again, just to answer your question, I think what I would say is that, for the IMF, we're confident that steady implementation of the policies that underpin this programme together with strong support from the international community will indeed allow Argentina to return to macroeconomic stability and to fulfill its economic potential for the benefit of all Argentines, of course.”
7. Med shot, reporters
8. SOUNDBITE (English) Gerry Rice, Spokesperson, International Monetary Fund (IMF):
“What I would say on the whole question of buyback and so on, it's a decision for the Greek authorities to make obviously, and that's in the context of they're a liability management strategy. They certainly have a range of options and that's one of them. But again, I don't have the details. What -- I mean, what I'd also say is that in Greece is in a strong position following the decision by the European Partners on additional debt relief and the buildup of a large cash buffer supported by the final ESM disbursement. So, it can afford to be a patient.”
RECENT – WASHINGTON, DC
10. Med shot, exterior IMF
The International Monetary Fund (IMF) is scheduled to hold technical talks with Pakistan beginning November 7 on how to best support that country’s economy, spokesperson Gerry Rice told reporters today (01 Nov) in Washington.
Rice said an IMF staff mission is headed to Islamabad next week to work out details of a support plan noting that any agreement would then need to be put to the IMF Board for approval. He said the objectives of the programme would be “to help stabilize the Pakistan economy, put in place the preconditions for sustained inclusive growth.”
Turning to Argentina, Rice said the IMF believes that the country is making progress toward restoring growth. He said, “Clearly the name of the game now is implementation. So, we have the programme agreement. We have the measures agreed. And I think the momentum has begun. There's been good progress so far, but it's early days.”
The Spokesperson said the IMF is “confident that steady implementation of the policies that underpin this programme together with strong support from the international community will indeed allow Argentina to return to macroeconomic stability and to fulfill its economic potential for the benefit of all Argentines, of course.”
Rice also said Greece has the option to buy back IMF debt obligations and transfer them to less expensive financing through the ESM (European Stability Mechanism). He said this was a decision for the Greek authorities adding that “they certainly have a range of options and that's one of them.”
Greece has exited its programme engagement with the IMF and has eliminated its extraordinarily high fiscal deficits (from a deficit of 15 percent of GDP in 2009 to a surplus of just over one percent in 2017) and brought its external transactions, its current account, into near balance.
The IMF spokesperson said Greece “is in a strong position following the decision by the European Partners on additional debt relief and the buildup of a large cash buffer supported by the final ESM disbursement. So, it can afford to be a patient.”
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