IMF's Gerry Rice: Greece will be in a "Normal Situation" after Adjustment Program Ends
The International Monetary Fund (IMF) welcomes Eurogroup decisions on Greece's debt relief and believes it will reduce the country's financial risks in the mid term, Fund spokesman Gerry Rice said during a press briefing on Thursday.
The fund will continue to support Greece through the post-program surveillance, which is very normal for every country concluding a program, he said. It will be involved with checking the results and application process of agreed policies. The post-program surveillance, he noted, is a very normal process for the IMF and was applied in Portugal, Ireland, Cyprus and other countries of the world. The reviews (Article IV consultations) will take place on a lot more flexible basis than the adjustment program's quarterly reviews, he added.
"There is an Article IV consultation underway right now in Athens with the Greek authorities and the IMF staff," Rice said. "We expect that to conclude tomorrow (Friday), when we will be offering our preliminary views," he added, and the chief of IMF’s mission in Greece, Peter Dolman, will give a briefing in Athens the same day.