Unifeed
IMF / BRIEFING
STORY: IMF / BRIEFING
TRT: 2.28
SOURCE: IMF
RESTRICTIONS; NONE
LANGUAGE” ENGLISH / NATS
DATELINE: 11 JULY, 2013 WASHINGTON, DC, UNITED STATES
RECENT, WASHINGTON, DC, UNITED STATES
1. Wide shot, exterior IMF headquarters
11 JULY, 2013 WASHINGTON, DC, UNITED STATES
2. SOUNDBITE (English) Gerry Rice, Director, Communications, IMF:
“We continue to follow developments closely, and are considering their implications for the IMF's work in helping Egypt address its serious economic problems.”
3. Cutaway, reporters
4. SOUNDBITE (English) Gerry Rice, Director, Communications, IMF:
“In determining how to deal with the interim government of Egypt, we will be guided, as is usually the case in these circumstances, by the views of the international community, in particular those of the Fund's membership.”
5. Cutaway, reporters
6. SOUNDBITE (English) Gerry Rice, Director, Communications, IMF:
“The next steps after the announcement of the staff-level agreement is implementation of the agreed prior actions by the authorities to prepare for our executive Board’s consideration of the request tentatively scheduled for early September.”
7. Cutaway, reporters
8. SOUNDBITE (English) Gerry Rice, Director, Communications, IMF:
“Portugal has made solid progress under the joint ECB/EC/IMF program, with great determination and sacrifices of the Portuguese people. It's important that the record of strong implementation continues, so that recovery can take hold.”
9. Cutaway, reporters
10. SOUNDBITE (English) Gerry Rice, Director, Communications, IMF:
“There is no financing gap through July 2014. A gap is projected for after July 2014, but I think at this stage, we want to take it one step at a time. We need to discuss the budget. We need to look at exactly what the financing needs would be and what the financing gap would be in that context. Also to remind that the European partners have made commitments to provide adequate future financing for Greece provided that the program is implemented.”
11. Cutaway, reporters
The International Monetary Fund said Thursday that it has not had contact with Egypt’s interim government, although the Fund remains in contact with counterparts at a technical level.
“We continue to follow developments closely, and are considering their implications for the IMF's work in helping Egypt address its serious economic problems,” Rice said.
The IMF had been in talks with the Egyptian government about a $4.8 billion program before the military’s removal of President Mohamed Morsi. Rice said that a decision on whether to begin talking to the interim government will be guided by the views of its membership and the international community.
“In determining how to deal with the interim government of Egypt, we will be guided, as is usually the case in these circumstances, by the views of the international community, in particular those of the Fund's membership,” Rice said.
Last week, the IMF reached a staff-level agreement with the government of Pakistan on a $5.3 billion program with Pakistan. Rice said before the program can be approved by the IMF Executive Board, the government will have to implement prior actions including the fiscal package, electricity price adjustments, launching of a tax enforcement initiative, and certain Central Bank actions.
“The next steps after the announcement of the staff-level agreement is implementation of the agreed prior actions by the authorities to prepare for our executive Board’s consideration of the request tentatively scheduled for early September,” Rice said.
Turning to Europe, Rice said that Portugal should continue the implementation of its program with the Fund to bolster its economic recovery. Portugal has become a focus of attention after the resignation of the foreign minister, who had become known as a critic of the joint IMF/EC/ECB program.
“Portugal has made solid progress under the joint ECB/EC/IMF program, with great determination and sacrifices of the Portuguese people. It's important that the record of strong implementation continues, so that recovery can take hold,” Rice said.
Speaking about Greece, Rice said that the IMF does not expect a financing gap in its program until July of 2014.
“There is no financing gap through July 2014. A gap is projected for after July 2014, but I think at this stage, we want to take it one step at a time. We need to discuss the budget. We need to look at exactly what the financing needs would be and what the financing gap would be in that context. Also to remind that the European partners have made commitments to provide adequate future financing for Greece provided that the program is implemented.”
Rice also announced the next mission to Cyprus will begin on July 17.
Download
There is no media available to download.