IMF ready to help Greece, but only after major reforms in the country

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IMF ready to help Greece, but first the country needs to undertake serious reforms, said Christine Lagarde, at a joint press conference with Angela Merkel. Lagarde explained that negotiations on Greece «are not at the level where they should be.» She is convinced that it is necessary to ensure that Greece’s debt burden in the long term, began to look acceptable. «Admissibility of the debt burden will be important for private investors They want to know that Greece has a future with economic, financial and monetary point of view.» — She said. Also, Lagarde assured — «The IMF stands ready to continue to provide assistance to Greece, as we have always said.» Angela Merkel, on the other hand, said that Germany, as before, is counting on the IMF’s participation in the program of aid to Greece. At the same time, she reiterated that strongly against a simple write-off of Greek debt that the IMF considers as necessary. «We want to participate in the IMF assistance program, we want rapid conclusion of the negotiations, — Merkel assured. — However, we are confident that the Greek debt write-off is not possible from a legal point of view. » Germany has repeatedly opposed the write-off of Greek debt, but at the same time assuring that Germany is ready to discuss the possibility of reducing the debt burden of the country in the form of extending the term of loans and preferential crediting periods. The situation about Greece tensed, after last weekend was published a transcript of the conversation labor representatives from the IMF on 19 March. From the conversation it is clear that the IMF would like to see Germany in the summer of this year agreed to a reduction of the Greek debt, and if this does not happen, the Fund may refuse to participate in the program of aid to Greece. Recall, that Greece does not need a credit at this time, the country will need the money in July, when it will have to pay the European Central Bank — 3.5 billion euros.

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