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STORY: IMF / EGYPT GREECE BOSNIA
TRT: 02:16
SOURCE: IMF
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS
DATELINE: 06 APRIL 2017, WASHINGTON DC
FILE – WASHINGTON DC
1. Wide shots, exterior of IMF building
06 APRIL 2017, WASHINGTON DC
2. Wide shot, Rice approaching podium
3. Wide shot, conference room
4. SOUNDBITE (English) Gerry Rice, Spokesperson, International Monetary Fund:
“There will be discussion of the reforms and that's ongoing. And then once we know exactly what the reforms are, then the level of debt relief is, obviously, matching. You know, it's a complementary to that. And what I have said before, just in terms of guidance, is that for the IMF to take a proposal to our executive board for support of a program in Greece, it would need to have both of those components, both legs. So, it would need to have the credible economic reforms and the credible commitment to debt relief, both, before we would take a program to our board.”
5. Close up, reporter
6. SOUNDBITE (English) Gerry Rice, Spokesperson, International Monetary Fund:
“This decision will have negative implications for Bosnia and its economy. And indeed, that’s why both reforms are key elements of the authorities’ program, which is supported by the IMF. We now expect a significant delay in completion of the first review of the program. Having said that, we remain fully committed to support Bosnia in its reform efforts. The program remains in place, and our staff is ready to assist the authorities in continuing the implementation of reforms, to unlock growth potential and maintain macroeconomic stability, including through our advice and technical assistance.”
7. Close up, reporter
8. SOUNDBITE (English) Gerry Rice, Spokesperson, International Monetary Fund:
“We will be discussing with the government and the Central Bank, how they can best use budget restraint and tighter monetary policy to contain demand, and so, bring down inflation.”
FILE – WASHINGTON DC
9. Wide shots, exterior of IMF building
A spokesperson for the International Monetary Fund (IMF) said the Fund was offering support to Egypt to help bring down inflation and protect the country’s poorest and most vulnerable citizens.
The IMF said its Managing Director Christine Lagarde held a meeting with Egyptian President Abdel Fattah El Sisi Wednesday night in Washington. Following the meeting, Lagarde expressed confidence that Egypt was making progress on addressing economic reform adding that the IMF stands ready to support steps to tackle persistent high inflation in the country.
Speaking to reporters in Washington today (06 Apr) spokesperson Gerry Rice said the IMF would be discussing with the Egyptian government and Central Bank “how they can best use budget restraint and tighter monetary policy to contain demand, and so, bring down inflation.” He said this was a priority in the period of ahead.
Rice said the IMF was also continuing talks aimed at debt-relief for Greece, but there was no firm time-frame for conclusion. Responding to a question regarding a statement made by Lagarde that there are “two legs” to any program pairing debt-relief to economic reforms on the Greek side, Rice said the framework for that would be to hold discussions, which were ongoing, of the reforms and then then once we know exactly what the reforms are, then the level of debt relief is, obviously, matching.” He said for the IMF to take a proposal to its Executive Board, “it would need to have both of those components, both legs.”
Rice noted that the Parliament of Bosnia and Herzogovina failed this week to adopt important reforms of the excise tax and deposit insurance. Quoting from a statement by the IMF Mission Chief for Bosnia, Rice said the decision “will have negative implications for Bosnia and its economy; and indeed, that’s why both reforms are key elements of the authorities’ program, which is supported by the IMF.” He added that there would now be a “significant delay” in completion of the first review of Bosnia’s Fund programme, but that it remains in place. He said the IMF urges continued implementation of needed reforms.
