IMF considers necessary to restructure Greek debt – The Costa Rica Nation

Washington. EFE. The director of the International Monetary Fund (IMF), Christine Lagarde, said Wednesday that the “acute” crisis of Greece requires a restructuring of the debt.

See gallery here about: Greece is in agony

At a conference at the Brookings Institution in Washington, Lagarde said that the IMF has always advocated an approach that “combines debt sustainability with structural reforms. ” That is precisely the increased demand for Greece in this crisis.

He recalled that “if the IMF is involved is because Greece requested assistance; once involved, should follow its rules and be fair, “he said in reference to the statement in default of that country to breach a payment of 1,600 million euros.

Also the US Treasury Secretary. UU., Jack Lew, spoke of the need to restructure the Greek debt bulging, a point on which the European partners, especially Germany, are reluctant.

Lagarde defended the actions of Fund bailout program to Greece, to ensure that their loans “are conditional on the restoration of growth and debt sustainability.”

The former Minister of Finance of France remarked that the IMF had advocated the same two-pronged approach in cases of bailouts for Ireland and Portugal, where the program “worked”.

Last week, the IMF published a report which amounted Greece needs another bailout 50,000 million euros in the next three years and pointed to the need to restructure its debt.

new proposal. Athens presented the proposal for a third bailout after six years of recession on Wednesday. It is the first step in a tight decided on Tuesday by members of Athens calendar, meeting at an extraordinary summit in Brussels

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According to this calendar The Greek government must now present a package of detailed reforms, which the prime minister, Alexis Tsipras, confirmed he would on Thursday.

The proposals by “institutions” will be analyzed creditor Athens-the European Union (EU), the European Central Bank (ECB) and IMF on Friday and then will pass to the finance ministers of the eurozone, who will meet in an extraordinary way on Saturday in Brussels.

The leaders of the EU 28 and not only the 19 eurozone will decide on Sunday if rescue Greece and its exit from the euro is confirmed.

Meanwhile, the Greek government extended the tax corralito ten days until Sunday, after the ECB decided to keep the maximum amount of emergency liquidity to Greek banks may ask unchanged. The Greek Union of Banks said it will liquidity until Monday.