IMF Chief Backs Tough Greek Reforms



    IMF Managing Director Christine Lagarde (l) and German Chancellor Angela Merkel (file photo)

     

    Controversial reforms recently approved by the Greek parliament have been welcomed by the head of the IMF, Christine Lagarde.

    In comments reported by the Athens-Macedonian News Agency, Lagarde said Greece was now “better equipped to grow in the future”.

    However, the IMF Managing Director told German broadcast ARD on Thursday that “reforms are a process without a clear ending point. There is still much to be done”.

    Her remarks came ahead of a high-level meeting in Berlin with German Chancellor Angela Merkel at which Greece’s ongoing economic troubles were to top the agenda.

    A Eurogroup summit next week will likely approve Greece’s next emergency payment, which is now expected in installments set to begin in February, Reuters reported on Thursday.

    Greece intends to exit its bailout program in August this year, but there is widespread expectation that international creditors will maintain a close supervisory role in the future.