The IMF analysis points out that a return to the drachma would signal a sudden change to the live of the people in Greece.

By contrast, the report suggests Greece will have better results through a gradual fiscal adjustment if it stays in the eurozone. The IMF report also forecasts that such astate of affairs would also lead other countries out of the eurozone causing a serious blow to the bloc’s banking system.

According to an official transcript, Poul Thomsen, head of the Internatinal Monetary Fund during a seminary session at the IMF argued: “the pace of structural reforms that we have seen, you know, certainly during 2011, is not consistent with success. It will lead to failure. So there is need for a significant reinvigoration of structural reform. There is obviously some concern among investors whether Greece can deliver that. “

Poul Thomsen, will visit the country on his own after the May 6 election before a mission visit takes place the following month, according to Sunday’s Kathimerini.

“We need assurances that whoever is in power after the election and reasonably wishes to make some changes in economic policy will be in line with the targets and the basic framework of the agreement,” Thomsen was quoted as saying in an interview with Kathimerini.

Troika inspectors, are expected to visit Athens in June, a month after the elections, to check on progress in meeting fiscal targets preparing plans for budget cuts of nearly 11 billion euros for the following two years.

The Bank’s board of executive directors said the “three nominees will be considered for the position, ” and executive directors will conduct formal interviews of the three candidates in Washington during the following weeks.

The review process is expected to be completed by the time the World Bank and International Monetary Fund hold semi-annual meetings in Washington in late April, according to a press release by the world bank.

Reuters agency has  reported that the nominees Okonjo-Iweala and Ocampo, who have credentials as both economists and diplomats and according to sources, the respective backing of Brazil and South Africa, pose a challenge to the United States, whose hold on the top post has never been contested.By tradition, the World Bank has been headed by an American while the International Monetary Fund by a European.

But that tradition has generated anger from developing countries seeking greater representation to reflect their rising contributions to the worldwide economy.

At a  news conference at the White House on Friday, US President Barack Obama  nominated Kim, a physician who has worked for decades in global health issues in impoverished countries to lead the World Bank.

Africa’s leading economies South Africa, Angola and Nigeria pronounced their support for Okonjo-Iweala, who served more than two decades at the Bank as an economist before returning to Nigeria where she was appointed Nigeria’s Finance Minister in 2003.

Ocampo, who originally nominated himself, is a former finance minister and central bank chief was nominated by Brazil.

The job is essential, overseeing the Bank’s mission to provide financial and technical assistance to  impoverished countries.

The World bank  which headquartered in Washington lent $57.3 billion last year and has more than 9,000 employees worldwide, according to AFP.