IMF stays tough on debt relief as it prepares to return to Greece

Maurice Obstfeld and other top officials stress fund’s demands on debt sustainability

International Monetary Fund. Photo: Bruno Sanchez-Andrade Nuño
Bruno Sanchez-Andrade Nuño

International Monetary Fund (IMF) officials are once again emphasising the need for debt sustainability in any lending programme, as the fund prepares a new mission to Greece.

Lending cannot go ahead if the debt service proves too burdensome for a government to cope. "Any assessment of debt sustainability needs to be underpinned by realistic – rather than heroic – assumptions regarding future growth prospects," write Sean Hagan, Maurice Obstfeld and Poul Thomsen in a blog post on February 23

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