Christine Lagarde, head of the International Monetary Fund (IMF), has reiterated her commitment to reducing Greece’s debt to GDP ratio to 120% by 2020.
However, in an interview with Bloomberg TV, the IMF chief said she was not “terribly optimistic or positive” about the the progress made by Greek authorities so far.
An earlier version of this article incorrectly said she isn’t optimistic or positive about recent progress toward a funding package and economic program that would enable the government to resolve its debt problems.
She says: “It is very simple from my point of view. The country has to do lots of things: structural adjustment, fiscal consolidation, it has to be stretched over the right period of time.”
Lagarde adds: “My concern is to put Greece on its feet, to make sure it one day returns to market and it is not kept out of water by third parties.”
However, Lagarde says she was pleased that negotiations were underway for “something that is significant and substantial”.
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