The International Monetary Fund (IMF) has declined to join a new bailout program for Greece until conditions for debt sustainability, including debt relief and economic reforms, are clearly assured.
An IMF official stated that difficult decisions like ‘debt relief’, among Greece’s European partners, will have to be taken to ensure ‘medium term sustainability’.
The official added that the IMF can only support a financial rescue programme ‘that is comprehensive’.
The IMF staff stressed that Athens needed more progress on reforms, and the country’s European Union creditors needed clearer commitment on debt relief, before the Fund decides to join a proposed new 86 billion euro bailout program.
