The IMF demanded a formal agreement between Greece and its creditors


Moscow. On 2 November. Eurozone countries should formally commit to a restructuring of Greek debt before the international monetary Fund will approve a new program of lending to Greece, said the first Deputy managing Director of the Fund David Lipton in an interview with Bloomberg.

According to him, the simple promises to evaluate the service Greece their debt is insufficient unless they are accompanied by special terms of reducing the debt burden of the country.

“We want the debt agreement between Greece and its creditors, said Lipton. – For us to go forward, we need clear guarantees that the issue will be resolved, a sufficient number of special details of how it will be resolved. This will be for the Fund a guarantee that Greece is on track to a stable debt-servicing”.

In August of this year, Greece agreed with the European creditors of the third program of assistance to the amount of 86 billion euros, and Eurozone countries expect that the IMF will also participate in the financing of Greece.

Prime Minister of Greece Alexis Tsipras appealed to the IMF requesting the launching of a new program assistance after the expiration of the current program in March 2016. A new program must receive the approval of the Executive Board of the Fund.

Germany and other Greek creditors believe that the IMF should play a financial and technical role in supporting Greece. The Fund’s participation in the third program of aid to Greece is an important condition for success in overcoming the country’s problems, experts say.

In June of this year, Greece became the first developed countries to have delayed payments on IMF loans. Later the country repaid the Fund.

According to Lipton, a priority for the IMF in the new assistance programme of Greece are the country implementation of the promised measures, the implementation of structural budget reforms, the solution of the problems of the banking sector and problems of public debt.