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IMF chief spokesman Gerry Rice addressing reporters in Washington
[PHOTO: UNifeed]
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Washington: The International Monetary Fund (IMF) said that with solid agreements in place between the IMF, Greece, and the
European authorities, the next step is for all parties to follow through on
their commitments.
"We believe this is a significant and concrete package
that can put Greece's debt back on a sustainable path. As you know, it includes substantial upfront
debt reduction measures of 20 percent of GDP and a commitment by Greece's
European partners to bring back Greece's debt to substantially below 110
percent of GDP by 2022 provided Greece delivers on its policy
commitments," said IMF chief spokesman Gerry Rice.
Rice said that provided that Greece's upcoming bond buyback
is successful, IMF Managing Director Christine Lagarde will recommend the next
disbursement to Greece from the IMF programme.
Turning to the Ukraine, Rice confirmed that the Ukrainian
authorities have indicated interest in a potential programme with the
Fund.
"The authorities have expressed interest in resuming a
program relationship with the Fund though the specific modality and conditions
have not been discussed yet and we have not received a request from Ukrainian
authorities to send a negotiating mission," Rice said.
In Hungary, Rice said that talks about a potential programme
are not progressing.
"We continue to exchange views with the authorities
though no formal negotiations are taking place at this point. As we stated recently, meaningful progress on
programme negotiations would require a clear indication from the authorities
that they see the IMF as valuable partners in designing a reform and adjustment
process," Rice said. -UNifeed