IMF awaits Europe's decision on Greek debt relief | business | Hindustan Times
Today in New Delhi, India
Aug 24, 2017-Thursday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

IMF awaits Europe's decision on Greek debt relief

The International Monetary Fund wants Greece's European partners to decide on a package of debt relief before determining if it will take part in Athens' next bailout.

business Updated: Aug 14, 2015 11:13 IST
Greek Prime Minister Alexis Tsipras (R) attends a parliamentary session in Athens, Greece July 16, 2015. Tsipras battled to win lawmakers' approval on Wednesday for a bailout deal to keep Greece in the euro, while the country's creditors, pressed by the IMF to provide massive debt relief, struggled to agree a financial lifeline. (Reuters)
Greek Prime Minister Alexis Tsipras (R) attends a parliamentary session in Athens, Greece July 16, 2015. Tsipras battled to win lawmakers' approval on Wednesday for a bailout deal to keep Greece in the euro, while the country's creditors, pressed by the IMF to provide massive debt relief, struggled to agree a financial lifeline. (Reuters)

The International Monetary Fund wants Greece's European partners to decide on a package of debt relief before determining if it will take part in Athens' next bailout.

Senior IMF official Delia Velculescu made the comment on Thursday after leading a team that met in Athens this week with Greek and European financial officials working on a rescue plan.

"In the period ahead, we look forward to working with the authorities to develop their 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," she said.

She said the IMF would assess "its participation in providing any additional financing to Greece once the steps on the authorities' program and debt relief have been taken."

Greek lawmakers are to vote on an 85-billion-euro ($94.8-billion) rescue plan negotiated with the European Union, European Central Bank and the IMF, its third bailout since 2010.

A major Greek creditor, the IMF took part in talks on the package but has let it be known that its participation in a bailout depends on Europe agreeing to sustainable debt relief.

Germany, the major eurozone economy and another Greek creditor, has "questions" about the planned deal. Eurozone finance ministers are to meet on Friday in Brussels.