International Monetary Fund (IMF) Managing Director Christine Lagarde stressed out that there is an urgent need for cash-strapped Greece’s unsustainable debt burden to be reconstructed.
In an interview with Swiss French-language daily newspaper “Le Temps” on Saturday, Lagarde implied that the International Monetary Fund is on the same page with Greece’s international creditors regarding the debt reconstructing issue,ruling out, any possibility for a write-off.
“The debate on the debt cancellation was never opened. I do not think it is necessary to open it things go well,” Lagarde stated.
The Chief of the IMF also added: “There are talks about extending maturities, reducing rates for a certain period of time. We are not takling about canceling debt.”
However, Christine Lagarde as the representative of one of Greece’s main international lenders did not provide any information about IMF’s intention to participate in Greece’s third 86 billion bailout program.
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