IMF’s Lagarde: ‘Dedicated’ to Greek Reform Process

Greece and its creditors need to “get on with the work” to implement reforms after the cash-strapped European nation met its most recent debt repayment deadline to the International Monetary Fund, Christine Lagarde, managing director of the IMF, told CNBC on Thursday.

Greece paid in full a 450 million euro ($485 million) obligation to the IMF earlier Thursday, temporarily easing concerns of a potential default. Lagarde—who met with Greek leaders on Sunday—noted that Greece and its creditors should look to identify measures to improve a “very bad economic situation” in the country.

The IMF, European Central Bank and European Commission make up the “Troika” of creditors that extended a 240 billion euro rescue loan to Greece. Greece won a four-month extension of its European bailout in February, contingent on proposing a list of fiscal reforms for creditor approval.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.