During the regular bi-weekly press briefing, IMF spokesman Gerry Rice stated that “In terms of the main findings, it is too early to get into details, but I think we can say that there are policy implementation delays in a number of areas and it is clear that the economy is going through another difficult period. Again, it is premature probably to get into too much detail, but clearly the important thing is to put the program fully back on track”.
Asked on troika mission findings during its last visit to Athens, he noted that “What I can say is that what we know so far, some targets were met, a number were missed, and in some cases we don’t have the data to access. So we’ll have to wait a little longer to develop the full picture. The timeline is that the mission will be going back on July 24 and we will take it from there”.
On negotiations between Greece and troika, he said that “The basis for discussions continues to be the objectives of the program that have been agreed with the Greek government. On that basis, if there are ideas how to better achieve the key program objectives, we are open to discuss them, as is the case in any of the programs that we support”.
Overall, targets do not change, adjustment program is most likely off track, implementation measures could change, but it is premature to commit to anything but the troika arrival on July 24.