PARIS (Reuters) – International Monetary Fund Director Christine Lagarde said on Friday the Fund could participate in a "complete" package to put the Greek economy back on track, make its debt sustainable & allow it to obtain its funding from financial markets.
Asked on France's Europe 1 whether the IMF would participate in a third bailout for the country, Lagarde said the Fund wanted to see a "complete" program for Greece & listed what that should involve.
"This complete package has two legs, a Greek leg that entails an in-depth reform of the Greek economy. That means holding a budgetary position that is sound & gives the country solidity; & the second leg is that of the lenders, which entails supplying finacing & restructuring the debt to ease its burden," she said.
p>Lagarde moreover reaffirmed her view that the country needed some form of debt relief, arguing that this did not have to be an outright write-off yet could involve measures such as a significant extension of loan maturities, stretching of repayment schedules, & reducing interests charged.
Lagarde moreover said she considered it "probable" that Greek banks will be able to open as planned on Monday.
(Reporting by Mark John; editing by Dominique Vidalon)
Christine LagardeInternational Monetary Fund