/ world today news/ The head of the IMF, Christine Lagarde, welcomed the approval of the third program for Greece by the European Commission.
“We approve the adoption of the third aid program for Greece in exchange for reforms by the European Commission. However, we continue to be of the opinion that Greece needs substantial debt restructuring,” Lagarde said.
“The package of political measures recently agreed between the Greek authorities and the European institutions is a very important step forward. The reform program adopted by Athens will restore the country’s budgetary and financial stability and allow it to return to the path of economic growth.”
“But in terms of writing off the debt or part of it, we continue to have disagreements with our European partners, who rule out such a possibility. While in our opinion, Greece would not be able to restore the stability of the debt only by its own actions. In order to do this, it is necessary substantial debt restructuring”.
Lagarde called for writing off the Greek debt, or at least part of it, at the end of July. “Paying off the debt is practically impossible for Greece. Our experts at the IMF have calculated that with the payment of the interest on it, the debt could reach 200% of the gross domestic product of the country”.
Washington / USA
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