BUSINESS

IMF's Thomsen urges swift solution on Greek debt, says still time for Fund to join program

ELENI VARVITSIOTIS

TAGS: Economy

In comments on Tuesday, the director of the International Monetary Fund's European department called for a swift agreement regarding Greece's debt and said there was still time for the IMF to join the country's third bailout before it expires in August.

Presenting the IMF's report on the European economy, Thomsen said there was still time to active a debt relief plan for Greece. 

"Time is running out but if there is agreement at the Eurogroup meeting in May then there will be enough time for us to active the program and for it to coincide with the remainder of the ESM program which will expire in August," he said.

Thomsen said that although there were "some different assessments of growth," differences have "narrowed."

He added that officials were examining mechanism for providing more debt relief if growth is weaker than European officials predict.

On Greek debt, he said there has been progress towards an agreement but that some aspects of the issue remain unresolved and that he hopes for an agreement soon." 

 

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