IMF chief calls for implementation of Greek program, debt relief

IMF chief calls for implementation of Greek program, debt relief

Managing Director of the International Monetary Fund (IMF), Christine Lagarde, has praised Greece’s progress on reforms while saying that implementation of the adjustment program coupled with an agreement on debt relief are key to leading the debt-wracked country out of the crisis.

The IMF chief made the comments after a meeting with Greek Prime Minister Alexis Tsipras in Washington Monday to discuss recent developments in Greece and key issues ahead.

“I was very pleased to welcome Prime Minister Tsipras to the IMF today. I complimented him and the Greek people on the notable progress Greece has achieved in the implementation of difficult policies, including recent pension and income tax reforms. We had an excellent and productive meeting,” Lagarde said in a statement after the meeting.

“The IMF recently approved in principle a new arrangement to support Greece’s policy program. Resolute implementation of this program, together with an agreement with Greece's European partners on debt relief, are essential to support Greece’s return to sustainable growth and a successful exit from official financing next year,” Lagarde said.

“The prime minister and I are committed to working together towards this goal,” she said.

In his comments, Tsipras said that “after several years of economic recession Greece has turned a page.”

The Greek prime minister said that it was in all parties' interest to wrap up the third bailout review “the soonest possible.”

Tsipras was expected to meet US President Donald Trump later on Tuesday.

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