IMF plays down Greek financing fears

The International Monetary Fund has said that no financing problems will arise in Greece. This statement was in response to a Financial Times report saying that the Fund was preparing to suspend payments to Greece by the end of July unless eurozone leaders plug a funding gap in the program.

20 June 2013
BBC News

The International Monetary Fund (IMF) has said that no financing problems will arise in Greece, if the current review of the country's bailout programme concludes by the end of July.

The IMF put out a statement in response to a report in the Financial Times.

The paper said the Fund was preparing to suspend aid payments to Greece by the end of July unless eurozone leaders plug a funding gap in the programme.

It said a gap of 3-4bn euros (£2.5-3.4bn) had opened up in the programme.

The Reuters news agency had reported on Wednesday that European foot-dragging could leave Greece 2bn euros short this year as some eurozone creditors were reluctant to roll over their Greek debt holdings.

The IMF did not mention any potential funding shortfall in the Greek programme, but in a statement on Thursday, IMF spokesman Gerry Rice said a recent mission to Greece had made "important progress".

"There is an ongoing review of the Greek programme," he said.

"The priority remains for the Greek authorities to deliver on the programme quickly.

"If the review is concluded by the end of July, as expected, no financing problems will arise because the programme is financed till end-July 2014."

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