12 Jul 2012

IMF / EUROPE

The IMF confirmed today (12 July) a new mission will go to Athens on 24 July and that Spain has taken difficult but appropriate actions to resolve its financial crisis. IMF

Posted at: July 12, 2012 4:35 pm

Duration: 02:02

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STORY: IMF / EUROPE
TRT: 2.02
SOURCE: IMF
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS

DATELINE: 12 JULY 2012, WASHINGTON, D.C. / FILE

SHOTLIST:

FILE – RECENT, WASHINGTON, D.C.

1. Wide shot, IMF

12 JULY 2012, WASHINGTON, D.C.

2. SOUNDBITE (English) Gerry Rice, Director, External Relations, IMF:
"[On Greece] There are policy implementation delays in a number of areas and it's clear that the economy's going through another difficult period. Again, it's premature to go into too much detail, but clearly the important thing is to put the program fully back on track."
3. Cutaway, reporters
4. SOUNDBITE (English) Gerry Rice, Director, External Relations, IMF:
"The basis for discussions continue to be the objectives of the program that has been agreed with the Greek government. On that basis, if there are ideas to better achieve the key program objectives, we are open to discuss them."
5. Cutaway, reporters
6. SOUNDBITE (English) Gerry Rice, Director, External Relations, IMF:
"The most recent review confirmed that the Portugal program is making good progress, is on track, amid continued strong external support. Euro-area member states have declared they stand ready to support Portugal until market access is regained."
7. Cutaway, reporters
8. SOUNDBITE (English) Gerry Rice, Director, External Relations, IMF:
"The measures announced by the Spanish government are difficult steps, but we believe steps in the right direction. We think that they should help Spain achieve the revised and less front-loaded deficit targets that were recommended by the European Council on Tuesday."

FILE – RECENT, WASHINGTON, D.C.

9. Wide shot, IMF

STORYLINE:

The International Monetary Fund said today (12 July) that it was too soon to discuss changes to the program with Greece. In a regular press briefing, spokesman Gerry Rice said that a mission is scheduled to return to Greece on July 24.

"There are policy implementation delays in a number of areas and it's clear that the economy's going through another difficult period. Again, it's premature to go into too much detail, but clearly the important thing is to put the program fully back on track," Rice said.

Rice added that in some cases, the Fund doesn't have enough data to assess whether measures may be open to discussion.

"The basis for discussions continue to be the objectives of the program that has been agreed with the Greek government. On that basis, if there are ideas to better achieve the key program objectives, we are open to discuss them," Rice said.

The IMF's Executive Board is scheduled to discuss the IMF's program with Portugal on Monday.

"The most recent review confirmed that the Portugal program is making good progress, is on track, amid continued strong external support. Euro-area member states have declared they stand ready to support Portugal until market access is regained," Rice said.

On Spain, Rice said new budget measures announced by Spanish Prime Minister Mariano Rajoy, are steps in the right direction.

"The measures announced by the Spanish government are difficult steps, but we believe steps in the right direction. We think that they should help Spain achieve the revised and less front-loaded deficit targets that were recommended by the European Council on Tuesday," Rice said.