IMF official again says time running out for Fund's participation in Greek program

Thursday, 17 May 2018 20:10

The IMF on Thursday again warned that time was running out for creditors to agree on debt relief measures, which would allow the fund to continue in the Greek program as an institutional lender.

IMF spokesman Gerry Rice was the latest Fund official to cite very tight deadlines, during a regular press briefing in Washington D.C.

He noted that while differences have been narrowed, there are still open issues that need resolution. Rice added that while Greece has achieved significant progress in terms of reforms, the debt issue remained unsolved.

The IMF, as well as the Greek side, wants debt relief measures in order to ensure that the country's debt load remains sustainable in the long term. Conversely, several Eurozone member-states, including Germany, are weary of announcing such measures in the present phase.

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