ECONOMY

IMF participation in Greek bailout necessary, says Moscovici

imf-participation-in-greek-bailout-necessary-says-moscovici

The International Monetary Fund’s participation in the Greek bailout is necessary, EU Economic Affairs Commissioner Pierre Moscovici said on Thursday.

Speaking to Greek media on Thursday, Moscovici said he was optimistic that a first review of the Greek program could be concluded by the end of January, paving the way for a discussion regarding the country’s sovereign debt.

He clarified, however, that the country did not need debt relief, but improved ways to pay off loans.

Moscovici rejected any possibility of trade offs between Greece and its creditors with respect to the ongoing refugee and migrant crisis and reforms in the country's social security system or the possibility of relaxing other conditions of its bailout program.