July 9, 2015 01:02 clock

“8″ IMF head Christine Lagarde advocates a restructuring of Greek debt a.

IMF chief Christine Lagarde is in favor of a restructuring of Greek debt. | © Philippe Wojazer / Reuters

Greece needs to restructure its debt to the International Monetary Fund (IMF) to view. A debt restructuring must be part of a plan to rescue the Greek Finance, reiterated IMF chief Christine Lagarde in Washington. At this step have the funds – always advised and to this view, nothing has changed – along with the demand for reforms. The country put in an acute crisis, Lagarde said in her speech to the Washington Institute Brookings. “The IMF is looking for a solution to restore stability and debt sustainability in Greece, fully committed.”

According to IMF estimates Greece needs over the next three years also further assistance in the amount of at least 50 billion euros. The share of euro-partner estimated the Washington-based organization to a minimum of 36 billion euros. The IMF estimate, however, was created before the recent escalation of the Greek debt crisis, the situation could therefore be even gloomier. In a last week report by the IMF experts had advised to double the period of repayment of the loans granted by the euro-partners at Athens loans.

Greece Thursday was the first industrialized country with the Monetary Fund in default , Athens was the deadline for a due installment of 1.5 billion euros to elapse. Earlier, Greece’s euro partners phase out its aid program for Athens, after negotiations on an extension had burst. Athens is currently seeking a third utility, on Sunday to find a special EU summit instead. The Greek population had however rejected the austerity and reform requirements of funders in a referendum.

“Greece is in an acute crisis situation that must be addressed,” Lagarde said. The IMF chief said that the IMF “fully committed” to stay in the search for a solution. Because of the Greek debt residue from the IMF, the organization must remit but no new financial aid to Athens. Greece will get in this question “no preferential treatment”, Lagarde pointed out.