IMF funds 'not necessary' for bailout – Greek PM

  • 08/12/2015
Greek Prime Minister Alexis Tsipras (Reuters)
Greek Prime Minister Alexis Tsipras (Reuters)

IMF funds are no longer necessary for an international bailout of Greece due to reduced loan requirements and the Washington-based lender's "unconstructive" position, the country's prime minister says.

"I have the impression that IMF funding is not necessary" for the bailout, Greek premier Alexis Tsipras said on Monday (local time) in an interview with public broadcaster Et1.

In July Greece obtained a three-year €86 billion rescue from its eurozone partners.

The International Monetary Fund (IMF) has so far not contributed to the aid programme, and has said it could decide in January whether it will do so.

The bailout included €25 billion to recapitalise Greece's cash-starved banks, but the final figure turned out to be dramatically lower than that, and as a result, "it therefore needs less money", said Tsipras.

He added that "the IMF position is unconstructive", blaming the financial institution for demanding tough reforms and guarantees.

The IMF said last week that it could decide in January whether it would put money into an aid programme for Greece that until now has been financed entirely by the eurozone.

It teamed up with the European Union on the first two bailouts for Greece, but held back on a decision this time amid insufficient reform pledges from the Greek authorities and European reluctance on restructuring the country's debt.

Tsipras's remarks came ahead of an upcoming visit to Greece by representatives of its so-called quartet of creditors – the European Commission, the European Central Bank, the International Monetary Fund and the EU's bailout fund, the European Stability Mechanism.

The visit by the four representatives is to oversee the launch of a new series of measures, including the acceleration of privatisations and the regulation of corporate debt, which the government has pledged to put to a vote in mid-December to clinch a new tranche of bailout funds.