Economic reforms and debt restructuring remain the IMF’s standing demands for its return to the Greek bailout as a lender, with IMF spokesman Gerry Rice again spelling out the Fund’s position on Thursday.
“Before the IMF would be able to make a commitment on our participation in the program, we would need to have the discussion of both policies and debt relief, and beyond the discussion credible commitments in which we have confidence,” Rice said in answer to a press question.
His statements come after a numerous interpretations were being circulated in Greece and by European creditors over exactly what was agreed to between Athens and the latter at a Eurogroup meeting on Monday. Each side, as well as the opposition in Greece, has thrust forth its own narrative on the agreement, which at “face value” means a return creditors’ representatives to Athens for yet another round of negotiations aimed at concluding the second review of the Greek program (third bailout).
Rice also took to his Twitter account to post three “Tweets” related to the Greek issue:
— MD Lagarde reiterated IMF’s willingness to support Greece w/financing once credible package of policies and debt relief is agreed
— There is no change to the Fund’s two-legged approach on Greece
— Greece: Discussions on policies and debt need to take place before a program can be recommended to the IMF Board
