IMF Demands ‘Unconditional’ Debt Relief for Greece as it Warns Targets Will Not Be Met

The EU flag flies beside a Greek national flag in front of the Parthenon temple on Acropolis Hill in Athens, Greece

by Szu Ping Chan

Greece needs “unconditional” debt relief if the country is to get its finances back under control and return to fiscal health, the International Monetary Fund (IMF) has warned.

A debt sustainability analysis (DSA) released by the Fund yesterday described additional cuts faced by Athens as “daunting” as it warned that “ambitious” targets agreed with the country’s creditors would be hard to achieve.

The analysis, parts of which have already leaked, underscores key differences between the IMF and creditors including Germany over the issue of debt relief ahead of a eurozone finance ministers meeting on Tuesday.

The IMF warned that “low-hanging fruit” in Greece had been “exhausted”.

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