International Monetary Fund Gerry Rice spokesman said the agency, which has had its doubts about Greece’s ability to recover from a crushing economic crisis despite $325 billion in two bailouts from the agency and the European Union and European Central Bank said the country will come back.
‘There is no financial gap through July 2014,” as far as Greece is concerned, he said. He added that Greek recovery is “broadly on track,” despite ongoing reports that the economy is still shrinking and won’t be able to bounce back as fast as the country’s international lenders would like.
He said while the IMF is optimistic Greece will recover, it’s also pessimistic that it won’t, saying that while the confidence level is high so is uncertainty.
“Greek authorities have fallen behind in implementing some of the program’s measures aimed at getting the economy on a sustainable path, such as on tax code and public administration reforms,” Rice commented. Despite that, the IMF and the other lenders are continuing to pump money into Greece although some analysts believe it won’t be repaid.
Rice also said the IMF believes Greece will keep its promises to reform although it’s missed every deadline and the IMF said it’s still dragging its feet at the same time the agency said it’s making progress..
“We want to take it one step at a time,” Rice said referring to the IMF’s policy not to provide further loans to a country under its loan program if the country’s development is not certain in the years to come.
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