Athens, April 05: Greece, International Monetary Fund (IMF) and the European Commission have all denied a report that said the IMF is planning to force Greece restructure its debts.
IMF Director Dominique Strauss-Kahn denied on Monday German news magazine Der Spiegel’s claim that the fund was trying to force Greece to restructure its debts since it has lost faith in the country’s economic recovery, DPA reported.
Strauss-Kahn said that restructuring debts is Greece’s major economic problem in the first place and would not help the country at all.
“Ultimately, Europe needs a comprehensive solution — based on pan-European solidarity — to deal with lingering financial sector and sovereign debt problems,” he said.
“Progress has been partial and piecemeal so far, and this is a key risk for the crisis countries as well as for overall recovery in Europe,” Strauss-Kahn added.
Greek Finance Minister George Papaconstantinou and the European Commission spokesman Jens Mester said on Saturday that Greek’s debt restructuring was not to be discussed.
On March 14, the International Monetary Fund disbursed 4.1 billion euros to the country in order to boost its economic recovery plan.
The 4.1 billion euros took to a total of 14.6 billion euros the money disbursed by the IMF to Greece as an EU-IMF economy rescue program.
The EU and IMF approved a 110-billion-euro loan package for the EU member state last May.
——–Agencies