IMF Spokesperson Notes Cooperation with European Creditors on Greek Bailout

    IMFInternational Monetary Fund (IMF) spokesperson Gerry Rice claimed during a news brief on Thursday, that the IMF is working with Greece’s European creditors‘ to access the 86 billion euro bailout‘s development, Reuters reports.

    “We are working with our European partners to assess progress on policy implementation under the ESM – European Stability Mechanism – program, looking at policy implementation and potential financing needs” Reuters quotes Rice as saying.

    The Greek government and creditors are still negotiating on the reforms the government must implement to receive a two billion euro bailout installment. With a Euro working group convening this upcoming Monday, Greek authorities are looking to finalize an agreement by Saturday, in hopes of getting approval for a needed installment of funds on Monday. Greece is also looking to get its hands on the ten billion euros that have been reserved specifically for the recapitalization of Greek banks.

    Despite having representatives in the ongoing negotiations, the IMF has yet to officially agree on participating in the third bailout, after being part of the first two bailouts. The fund has repeatedly claimed that it must see reform implementation by Greece on the one hand and Europe’s approval of some kind of debt relief for Greece on the other. A discussion on debt relief is expected to be held following the conclusion of the bailout’s first review.