Urgency seen toward easing Greece’s debt

Urgency seen toward easing Greece’s debt

“Time is running out,” International Monetary Fund spokesman Gerry Rice warned on Thursday in reference to the agreement required for the easing of Greece’s national debt. He stressed that despite the progress in talks, the Europeans’ proposals have not yet satisfied the Fund.

Rice made it clear that if the IMF decides to participate in the Greek program after all, it will by definition mean that the national debt is sustainable and will lead to attracting investments. A sustainable debt is a condition for sustainable growth, he said.

In any case the Fund is always at the negotiating table, Rice said, stressing that time is running short as the program ends in August. In an effort to converge with the Europeans, the IMF’s European program director Poul Thomsen is in Berlin for talks with German Finance Minister Olaf Scholz.

Greece’s representative at the IMF, Michalis Psalidopoulos, also stressed the urgency of the matter while speaking in Parliament on Thursday, saying next week’s Eurogroup is among the most crucial.

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