IMF spox: Progress has been made in talks with Greece but many differences remain

Progress has been made on some important issues discussed between Greece and its creditors as part of the country’s second program review but many differences remain, IMF spokesman Gerry Rice said at a regular press briefing on Thursday.

“There has been progress in important areas and we welcome it. However differences remain in important areas. I will not comment on which. It is too early to speculate on when an agreement will be achieved. There’s still a lot of work to be done,” he told journalists.

Asked if he’s referring to the staff-level agreement or the IMF’s overall program for Greece, Rice clarified he is referring to the ongoing talks.

Concerning Greek debt and a statement by IMF head Christine Lagarde that to make it sustainable it should be reduced both in terms of its servicing and its size, the spokesman reiterated that there are many ways to provide debt relief and that the Fund is not asking for a haircut.