IMF denies Reuters report that it had left Greek program

The IMF head of Communications Office, Gerry Rice has denied a report by Reuters news agency that it would abandon the Greek bailout program and take on an advisory role. Reuters had cited two IMF sources pointing to the creation of a new role for the Fund, which was reportedly formed to strike a balance between the desire of German voters for the Fund to remain on board the Greek program and the IMF’s previous statements that it would not back down from its position for a Greek debt relief. Rice refuted that sources from the IMF said that its new role would be limited in capacity to that of an advisor but without conditionality, like compliance and economic health audits on a 3-monthly basis. “We remain fully committed to the ultimate target of achieving an agreement for the creation of a new program, which would be backed by the Fund through a new deal”, Rice said.