1. IMF endorses Greece debt relief ahead of crucial bailout vote

IMF endorses Greece debt relief ahead of crucial bailout vote

The International Monetary Fund (IMF) has lashed out at the bailout deal offered by eurozone leaders to Greece, saying that the country's public debt had become 'highly unsustainable' and the new package should have offered some relief.

By: | Published: July 15, 2015 12:53 PM

The International Monetary Fund (IMF) has lashed out at the bailout deal offered by eurozone leaders to Greece, saying that the country’s public debt had become ‘highly unsustainable’ and the new package should have offered some relief.

The IMF suggested options including writing down the debt, a move that has been most fiercely opposed by the eurozone, reported the BBC.

The creditor’s assessment of the new deal could make it much harder for Prime Minister Alexis Tsipras to persuade parliament to back the reforms demanded by the EU in Wednesday’s votes.

It also raises doubts over the validity of the reform measures and endorses the kind of debt write-offs Greeks have been arguing for.

Greece owes 10 percent of its debt to the IMF.

  1. Mr R
    Jul 15, 2015 at 1:12 pm
    Why wouldn't the IMF support debt relief, it's not their money going out the window. Just another example of voting for other's money, just like the Greeks did when they voted not to accept austerity but rather funding by others. Such votes are getting less and less traction. Wonder why!
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