IMF Head: Creditors Have ‘Legitimate Interest’ in Supervising Greece



IMF Managing Director Christine Lagarde pictured with Greek Finance Minister Euclid Tsakalotos (file photo)

Greece will likely remain under some kind of foreign supervision despite exiting its bailout program in August it has been claimed.

Head of the IMF, Christine Lagarde, told a German newspaper that creditors had a “legitimate interest” in monitoring Greece after pumping so much money into the crisis-hit country.

Greece has had to enact further painful reforms to meet creditors demands before essential financial support was released to Athens.

On Feb. 8 European Economic Affairs Commissioner Pierre Moscovici confirmed foreign supervision of Greece’s economy was likely to continue, even once it returned to international markets:

“As many of the program commitments will continue to apply for a long time after the end of the program, there is also a need for an appropriate form of post-program supervision,” he told the Athens-Macedonian News Agency.