IMF representative Gerry Rice denied to comment on the Financial Times disclosures about a “Plan Z”, which the EU and the IMF had allegedly prepared in early 2012, in order to manage a possible Greek exit from the euro.

During a press conference in Washington, Mr. Rice was asked multiple times on the Financial Times article, but he clarified that the Fund’s strategy in these situations is not to comment on reports of this nature.

When asked whether the IMF participated in meetings relating to a “Plan Z”, he refused to comment. He clarified that the definition of the IMF’s job is to develop scenarios for responding to crises and to provide the best possible advice to its members.

The IMF representative was asked if the IMF had drawn up a plan for a possible Grexit, but he replied that he has no knowledge of such a thing.

When asked if such a plan existed or continues to exist, on the possibility of a eurozone division, he replied with an emphatic “no”.

Mr. Rice confirmed that the IMF’s Executive Board will be meeting on the 30th of May in order to approve of the fifth review of the Greek program, and clarified that after the adoption, the release of a 3.5 billion euro tranche, will follow.

Finally, although asked about whether elections are a “threat” to the Greek program, he said he will not speculate on the outcome of any elections.