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  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.

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