The International Monetary Fund said Thursday that it would continue to finance Greece as long as it is able to complete a review of the cash-strapped country’s finances by the end of July as expected.
The statement by the Washington-based multilateral lender came in response to reports that several European central banks were refusing to roll-over loans to Greece, something that could create a shortfall in Greece’s financing. A media report said the IMF had warned European countries that it would cease lending to Greece as early as July if the funding gap wasn’t filled.
The IMF didn’t confirm or deny the report. In its statement, the IMF said that a recent mission to the country had concluded that Greece had made “important progress,” adding that policy discussions would resume by the end of this month.
“The priority remains for the Greek authorities to deliver on the program quickly,” the IMF said. “If the review is concluded by the end of July, as expected, no financing problems will arise because the program is financed till end-July 2014.”
(source: WSJ, Dow Jones)
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