ECONOMY

IMF chief excludes payment delay for Greece

The head of the International Monetary Fund on Thursday signaled she would not grant a payment delay to Greece, as it had never been done for an advanced economy and the Fund should protect its safe reputation.

IMF Managing Director Christine Lagarde said a Greek delay on its repayments to the Fund would not be recommended in the current situation.

“We have never had an advanced economy asking for payment delays,” she said in response to reporters’ questions on Greece, which is struggling with a tight liquidity situation while it negotiates with its foreign creditors.

[Reuters]