There is talk of debt relief in the future, and perhaps even a bit of foreign investment.
Bondholders were encouraged by comments from Chancellor Angela Merkel of Germany, reported in the German news media over the weekend, that raised the possibility that European governments might offer Greece debt relief in the future.
"Regarding debt relief procedures in the future, the Financial Reconstruction Commission should be more cautious," said Hidenao Nakagawa, chief cabinet secretary and ruling-party spokesman.
A budget vote is expected before July 1, the beginning of the state's next fiscal year, because waiting longer than that could by law force lawmakers to allocate this year's $600 million budget surplus to debt relief rather than to future spending.
"Debt relief is critical but we also have to ask, 'How will you fund the future?"' The World Bank has already overseen $53 billion in debt relief for the world's poorest countries.
In return, the eurozone creditors may accept that debt relief will be required in the future, provided Athens sticks to its pledges.
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Diplomats said the IMF's publication of the study was a way of making clear it would only be part of any future loan pact with Greece if the Europeans included debt relief in the mix.
This would be a first step in the awarding of further benefits — the lifting of sanctions; help with debt relief — if Khartoum merits them in the future.
Mujtaba Rahman, an analyst at Eurasia Group, said Greece would start pushing hard for debt relief, which could be tied to a future financial programme once the current bailout expires at the end of 2014.
