The International Monetary Fund (IMF) sees positively a proposal put forward by the head of the European Stability Mechanism (ESM) Klaus Regling on debt relief for Greece, the Fund΄s spokesman Gerry Rice announced in a regular press briefing on Thursday.
According to Rice, the proposal, which foresees repaying Greece΄s old loans with the unused money available after the completion of the country΄s third bailout program, is not new and has been discussed again in the past.
He noted that such a solution could contribute to the sustainability of Greek public debt as the funds granted by the ESM to the country are accompanied by a comparatively low interest rate.
Rice added nevertheless that the IMF would need to examine whether this action would be enough to make Greek debt sustainable, noting that debt relief is a necessary precondition to activate the “initial agreement” achieved this summer, he added.
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Source: capital.gr
