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Greek debt must be sustainable for IMF to join bailout - Lagarde
April 18, 2017 / 8:23 AM / 7 months ago

Greek debt must be sustainable for IMF to join bailout - Lagarde

BERLIN (Reuters) - The International Monetary Fund will not take part in a bailout programme for Greece if it deems the country’s debt is unsustainable, the international lender’s chief Christine Lagarde said in an interview published on Tuesday.

International Monetary Fund (IMF) Managing Director Christine Lagarde delivers a speech at the Solvay Library in Brussels, Belgium April 12, 2017. REUTERS/Francois Lenoir

Greece needs to implement reforms agreed by euro zone finance ministers earlier this month to secure a new loan under its 86 billion-euro ($91.58 billion) bailout programme, the third since 2010.

The loan is needed to pay debt due in July, but talks continue and the IMF has not yet decided whether to join the bailout. The fund’s participation is seen as a condition for Germany to unblock new funds to Greece.

“If Greek debts are not sustainable based on IMF rules and reasonable parameters, we will not take part in the programme,” Lagarde told German newspaper Die Welt when asked if the IMF would take part in the plan if Greek debt is not restructured.

($1 = 0.9391 euros)

Reporting by Joseph Nasr and Paul Carrel

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