IMF: Some form of debt relief necessary for Greece

IMF undecided whether to take part in new 86bln Euro loan to Greece

IMF Chief Christine Lagarde said some form of debt relief would be possible for Greece, according to Reuters. In an interview to Swiss newspaper ‘Le Temps’, the IMF head said that Greece could deal with its ‘unsustainable debt’, if some kind of a debt relief was adopted, but not a debt write-off, she added. Lagarde underlined the IMF had not concluded whether it would be on board the new 86bln Euro bailout plan to Greece signed in mid August. Specifying what she meant by a debt relief to Greece she said: ‘We are talking about maturity dates, interest rate reductions and a grace period for payments’.