IMF open to possibility of participating in the Greek program without funding

Friday, May 26th, 2017
Last Update: 10:18

The minutes of the May 22nd Eurogroup were leaked to the press yesterday, revealing among others a proposal by the Eurogroup’s Head Jeroen Dijsselbloem for the participation of the IMF in the Greek program with no funding until the issue of debt sustainability is resolved.

Poul Thomsen seems to have adopted the idea which was at the time rejected by the Greek side through the Greek Finance Minister who mentioned that the Greek Govt would need time to contemplate the idea.

This proposal was also discussed yesterday by the IMF spokesman Gerry Rice who commented that there have been in the past some other cases of participation approval without funding, implying that the IMF is opening up to the possibility of participating in the Greek program with no funding until debt sustainability is secured.

He added that although the IMF’s position is in favor of securing the sustainability of Greek debt, the fund is flexible and the differences between the IMF and Europe are narrowing.

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