Dimitris Tzanakopoulos: Non participation of IMF will not affect credibility of Greece’s exit in August
There is no concern that the discussion on Greek debt will end in deadlock, while the non-participation of the International Monetary Fund (IMF) will not affect the credibility of Greece’s exit from the programme in August, government spokesman Dimitris Tzanakopoulos said on Monday in an interview.
Asked whether the Greek government is concerned by the fact that the Washington Group did not end with an agreement for easing Greek debt, he said: “We are not at all concerned. I would say the opposite. Nobody was expecting an agreement at this meeting. However, what I should point out to you is that there is no question about the final decision on Greek debt relief because it is determined by the Eurogroup decision of June 15, 2017, according to which there should a change in the profile of Greek debt such that the medium-term financing needs of the country do not exceed 15 pct. Therefore, what needs to be done are some calculations on the basis of the growth projections made by ESM and the other EU institutions.”
“Whether the IMF participates or not is its own affair,” he said, adding: “I think it will in no way affect the credibility of the country’s exit from the fiscal adjustment programme.”
The government spokesman said that the “key” issue in the message sent to the markets will not be the IMF’s involvement or not but the change in the profile of Greece’s debt: “Markets and investors are well aware that the important issue is not whether the IMF is involved or not. What is important is whether the change in the Greek debt profile can lead to financing needs that will not exceed 15 pct of GDP. This is the key.”