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IMF says Greek debt relief still needed after bailout deal

WASHINGTON A deal in between Greece and its global lending institutions for more fiscal reforms settles one issue that has blocked the International Monetary Fund’s financial involvement in the bailout, but financial obligation relief is still required, an IMF spokesperson stated on Tuesday.The spokesperson said the IMF

has actually long kept that Greece’s bailout program should have both reforms to satisfy financial surplus targets and financial obligation relief in order for the Fund to participate.In a joint declaration with Greece’s European lenders, the IMF said:

“the Greek authorities have actually confirmed their intent to swiftly implement this policy package. This initial agreement will now be matched by more discussions in the coming weeks on a reputable technique for ensuring that Greece’s debt is sustainable.”Greece’s federal government early on Tuesday promised to cut pensions and offer taxpayers fewer breaks to

pave the way for the disbursement of more rescue funds.(Reporting by David Lawder; Editing by Chizu Nomiyama )

Source

http://in.reuters.com/article/us-eurozone-greece-imf-idINKBN17Y1EP

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