The International Monetary Fund (IMF) puts pressure on Europe to table a proposal for a Greek debt write-down as a condition for its participation in the country’s third bailout program.
The IMF believes that the Greek debt is unsustainable and it would continue financial aid to the country after steps are taken to ease the debt burden, said a Reuters report.
“We look forward to working with the authorities to develop their [economic] 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,” IMF Greece mission chief Delia Velculescu said in a statement.
“The IMF … will make an assessment of its participation in providing any additional financing to Greece once the steps on the authorities’ program and debt relief have been taken,” Velculescu added.
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