BUSINESS

IMF mission chief calls for Greek debt relief

TAGS: Economy, Conference

Greece needs substantial debt relief, IMF Greece mission chief Delia Velculescu said Wednesday, adding that the country’s bailout fiscal targets are too ambitious.

Speaking at an Economist conference in Athens, the Romanian official described the new ESM program for Greece as a very important step which underscores the commitment of eurozone governments to keep the debt-hit nation in the bloc’s common currency zone.

Velculescu called on the leftist-led government of Alexis Tsipras to step up the implementation of agreed reforms, make changes to the country’s tax system and strengthen the fight on corruption.

However she stressed that in order to resume lending to Greece, the Washington-based Fund needs to make sure that Europe will offer substantial debt relief to Athens.

Online