IMF Managing Director Christine Lagarde again touched on the intricate negotiations revolving around the Greek bailout program – and with the second review still delayed – reiterating that the Greek debt must be restructured.
In an interview with “Le Parisien”, the powerful IMF chief said “we’re committed to the Greek program; beyond the reforms, we need a sustainable debt,” she said.
The Fund’s standing insistence for Greek debt sustainability requires a restructuring was again cited by Lagarde, who referred to various tools – such as the standard extension of maturities and lower interest rates – to achieve this.
Moreover, Lagarde pointed directly to her efforts to persuade European creditors to consent to more debt relief measures.
