IMF Head Lagarde says GDP surplus for Greece could be reached with ‘absolutely heroic efforts by public’

Lagarde insists debt not sustainable

IMF Director Christine Lagarde claimed that Greece’s economy could be salvaged, if the country’s debt was sustainable and it accelerated the necessary reforms, during a press conference held on Thursday. Ahead of Friday’s start of the IMF-World Bank meeting in Washington, the Fund’s head said the last thing Greece wanted would be any delays. ‘I agree with the view expressed by Greek authorities: We must move quick’, said Lagarde. She reiterated her view that the goals set were achieving stability, sustainability and growth in Greece, while underlining that the Greek debt should be looked into, revealing the Fund’s opposing views with its EU partners. ‘There has to be a combination of the right measures and correct fiscal policies. The goal should be to render the debt sustainable’, said Lagarde. Responding to a question on whether Greece could reach a 3.5 percent primary surplus in GDP in the medium run, she said that if the government, and more importantly the Greek public ‘made absolutely heroic efforts’ it could be achieved.