International Monetary Fund’s Thomsen: No doubt Greece can meet targets

The director of the International Monetary Fund’s European department Poul Thomsen sent positive messages on Greece at a press conferennce he gave on Friday on the sidelines of the IMF and World Bank spring meetings. This indicates that the pieces for a final deal are gradually being put in place and that Greece could have a “good exit” from the program as long as reforms are implemented.

For the first time, Thomsen said that the IMF does not doubt Greece’s ability to achieve primary surplus targets, clarifying that the fund wants growth-friendly fiscal policies.

“There is no doubt that Grece could achieve the targets agreed upon with the Europeans. Our concern is whether Greece could do it in a way that is in line with strong growth in the mid term.”

Asked about a precautionay credit line, Thomsen said that this is a decision for Greece to make, as he stated his confidence in the country achieving the program’s targets.

As far as Greece regaining market access is concerned, he said that the the program must be completed, as well as its reforms.

“It will depend on the successful completion of the program and from the continued implementation of reforms when Greece will no longer be in the program. The challenge is for the government to maintain reforms and by doing this, I am sure Greece will be able to return to the markets,” he said.