IMF Says It Will Not Join New Greece Bailout Right Now

by AFP
July 31, 2015

2015-0802 IMF Says It Will Not Join New Greece Bailout Right Now

Brokers sit in front of their screens at the stock exchange in Frankfurt am Main, western Germany, on July 20, 2015 as focus remained firmly on Greece, where banks reopened after a three-week shutdown imposed to prevent a run on ATMs from crashing the financial system. Greece has begun making a 4.2 billion euro ($4.6 billion) payment due to the ECB as well as outstanding sums due to the International Monetary Fund (IMF) according to a ministerial source.

The International Monetary Fund said Thursday it would not join a new bailout program for Greece until conditions for debt sustainability, including debt relief and economic reforms, are clearly assured.

“In order to ensure that medium term sustainability, there is a need for difficult decisions on both sides… difficult decisions in Greece regarding reforms, and difficult decisions among Greece’s European partners about debt relief,” an official of the IMF said.




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