Press Release: Statement at the End of an IMF Staff Visit to Greece
IMF News, August 13, 2015
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- Press Release: Statement at the End of an IMF Staff Visit to Greece
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Bibliographic details
- Published: August 13, 2015
Visit and participants
- Press Release No. 15/377
- Date: August 13, 2015
- A staff team from the International Monetary Fund (IMF), led by Delia Velculescu, visited Athens during July 30-August 12 to participate in technical discussions between the Greek authorities and the European Commission, European Central Bank and European Stability Mechanism (ESM) on an economic program that could be financially supported by the ESM.
Statement by Ms. Velculescu — key passages
- “During our visit we worked closely with the Greek authorities and our European partners. The Memorandum of Understanding that has been agreed between the authorities and the European partners is a very important step forward. It puts in place far-reaching policies to restore fiscal sustainability, financial sector stability, and sustainable growth.
- “In the period ahead, we look forward to working with the authorities to develop their program in more detail and for Greece’s European partners to make decisions on debt relief that will allow Greece’s debt to become sustainable. The IMF will remain closely engaged with the Greek government and the European partners to assist in this process, and will make an assessment of its participation in providing any additional financing to Greece once the steps on the authorities' program and debt relief have been taken, expected at the time of the first review of the ESM program."
Next steps and IMF role
- Further development of the Greek authorities' program in more detail with IMF technical engagement.
- Decisions on debt relief by Greece’s European partners to allow Greece’s debt to become sustainable.
- IMF to assess its participation in providing any additional financing to Greece once steps on the authorities' program and debt relief have been taken, expected at the time of the first review of the ESM program.
Media contacts
- IMF COMMUNICATIONS DEPARTMENT, Media Relations
- E-mail: media@imf.org
- Phone: 202-623-7100
Press Release: Statement at the End of an IMF Staff Visit to Greece, Press Release No. 15/377, August 13, 2015.