IMF: Greece precautionary support could come in several forms

“A precautionary support could come in several forms,” Gerry Rice, IMF spokesman, said on Thursday during a briefing to reporters in Washington.

Responding to a reporter’s question on when the troika will return to Athens, Rice stressed that the troika awaited from Greek authorities “the full amount of policy proposals”, adding that there was no specific timetable for this. Rice reiterated the IMF’s position on a “precautionary credit line” – a view presented by the IMF’s head Christine Lagarde – saying “that’s something for Greece to decide” while he underlined the progress made by the country and its “access to markets”.

Also, he noted that Lagard praised Greek authorities for a significant improvement in the country’s fiscal condition and encouraged them to decisively implement all basic structural reforms, according to commitments made in the programme, during a recent meeting with Greek Finance Minister Gikas Hardouvelis and other Greek officials in Washington, while she reiterated the Fund’s commitment to support Greece in achieving its goals.

Rice repeated that the Fund “supports the wish of Greek authorities to avoid any horizontal cuts in wages and pensions,” underlining the need to implement fiscal and structural reforms. He noted, however, that “progress continues to lag behind” in tax administration reforms.