IMF Wants EU to Help Cut Greek Debt

IMF Wants EU to Help Cut Greek Debt

Marjorie Olster - Associated Press

(AP Photo/Ann Heisenfelt, File)
International Monetary Fund (IMF) Managing Director Christine Lagarde says Greece needs more help from its European partners in cutting its crushing debt as two bailout packages of $325 billion haven?t done enough and worsened a recession.

WASHINGTON (AP) ? The International Monetary Fund chief said she is counting on Europe to live up to its commitment to help Greece meet its targets for slashing debt under an international rescue program. The IMF said in its quarterly review of Greece?s progress earlier this week that the bailout program would fall short of the country?s needs by a total of $14.59 billion by the end of 2015 and Eurozone countries need to plug the hole. The international lending agency described the expected shortfall as a ?test of European support? and said finance ministers from the 17 countries that use the euro have already started discussing how to fill the financing gap.

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August 02, 2013

Source: http://www.thenationalherald.com/article/60132

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