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IMF dismisses news it plans to join Greek Program with $3bn to $6bn

Spokesman of the International Monetary Fund, Gerry Rice, dismissed media reports according to which the IMF will join the Greek program with a small loan somewhere between three and six billion dollars. Rice insisted that there has been no discussion at the IMF board about any amount.

As I said yesterday: There has been no IMF Board discussion of possible new loan, or amount, to Greece (starts 25’)

In an exclusive story Bloomberg reported among others that the new Fund program for Greece could be discussed during the spring meetings in Washington, with board decision after that.

In another development, Poul Thomsen, the Fund’s responsible for the Europe program, reiterated that the Greek debt is unsustainable.

Skai TV correspondent in Washington tweeted later Friday night:

IMF’s Thomsen says one could target lower primary surplus than 3.5%, if it stays as high no doubt it will have adverse effect on growth.

Blanchard calls IMF position on lower primary surplus targets, debt restructuring “absolutely essential” but not enough, reforms needed too

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