ECONOMY

IMF presses Europe to provide debt relief for Greece

imf-presses-europe-to-provide-debt-relief-for-greece

The International Monetary Fund on Thursday pressed Europe to come forward with debt relief for Greece, saying it would only make a decision on providing further financing for Athens after steps are taken to make its debt burden more sustainable.

"We look forward to working with the authorities to develop their (economic) program in more detail and for Greece's European partners to make decisions on debt relief that will allow Greece's debt to become sustainable," IMF Greece mission chief Delia Velculescu said in a statement.

"The IMF … will make an assessment of its participation in providing any additional financing to Greece once the steps on the authorities' program and debt relief have been taken," Velculescu added.

[Reuters]