IMF says still need ‘credible’ debt relief for Greece
http://ift.tt/2p5Rl0P Greece Finance Minister Euclid Tsakalotos said he hoped to see a final deal in time for the May 22 meeting of eurozone finance ministers, which must approve the agreement. Despite an agreement reached Tuesday on a reform package, Europe still needs to provide “credible” debt relief to Greece before the International Monetary Fund can provide more financing, an IMF official said. Greece and its creditors closed a troubled chapter in the negotiations with a preliminary deal on pension and tax cuts after many months of talks. “Now, this will have to go hand in hand with a credible strategy for how to restore debt sustainability,” said Poul Thomsen, head of the IMF’s European Department. Those discussions on how to address the Greek debt burden are only now getting underway, he told reporters in a conference call. “Once we have (a) program that consists of both legs — strong policies and strong debt relief measures — we can take it to the board” of the IM...