International Monetary Fund Managing Director Christine Lagarde said that Greek Prime Minister Alexis Tsipras asked the IMF to stand by Greece in the bailout program.
In an interview with French newspaper “Le Parisien,” Lagarde said that the IMF is making an effort to convince Greece’s European creditors — the European Stability Mechanism, European Commission and European Central Bank — of the need to restructure the Greek sovereign debt and that Tsipras asked that the Fund participates in Greece’s bailout program.
“To commit to Greece, as the Greek prime minister has requested, in addition to reforms, the debt should be sustainable. This requires restructuring, which could be done through various actions such as a significant lengthening of repayment, or with very low ceilings in interest rates.”
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