ECONOMY

Lagarde says IMF ready to help Greece advance reform agenda

lagarde-says-imf-ready-to-help-greece-advance-reform-agenda

The head of International Monetary Fund Christine Lagarde told a Greek minister on Tuesday that the fund stands ready to work with Athens in advancing its reform agenda, according to an IMF spokesperson.

Lagarde met Greek Economy Minister George Stathakis who is accompanying Greece's Prime Minister Alexis Tsipras on an official visit to the United States.

Lagarde and Stathakis also discussed the Greek debt issue and Greek banks' recapitalisation, a Greek economy ministry official said.

The IMF argues that Greece's current debt is unviable and is pressing Europe to provide a "significant" debt relief for Greece before the Fund decides whether it will participate in a third bailout the country signed up to in early August.

Debt restructuring has been a top priority for the Greek government, which says that a mountain of dues accumulated since its first bailout in 2010 is shackling the country in perpetuity. [Reuters]