You are here

IMF, the missing piece in Greek debt deal

Fund wants Europe to provide debt relief in order for it to give cash towards next Greek bailout

BT_20150817_NAHIMF17A_1827810.jpg
Protesters from the Communist-affiliated trade union PAME at an anti-austerity demonstration outside the Labour Ministry in central Athens in early August. The placard reads "No to layoffs. Steady and permanent jobs for everybody".
BT_20150817_NAHIMF17A_1827810.jpg
'I remain firmly of the view that Greece's debt has become unsustainable and that Greece cannot restore debt sustainability solely through actions on its own.' - IMF chief Christine Lagarde

New York

AT long last, European creditor nations and Greece have reached an agreement on a third bailout in five years.

The bailout, which was approved by Greece's Parliament on Friday, included familiar details: in return for an infusion of 86 billion euros, (S$134.4 billion),