Lagarde: IMF has not asked for additional austerity – debt restructuring still on the agenda

Christine Lagarde - Reuters

naftemporiki — Following media reports that the IMF will demand 2.3 billion euros  additional austerity measures from the Greek government in 2018,  Christine Lagarde herself emphasized on Thursday that the Fund has not asked for new austerity measures. 

Lagarde made the statement during a wide-ranging press conference in Washington D.C., ahead of the IMF/World Bank annual autumn meetings.

In response to a question by a Greek reporter asking about a debt solution and the “clear exit” scenario Lagarde said:

“..First of all let me acknowledge that there has been a lot of work done over the years and huge efforts consented by the Greek people, and it’s immensely impressive in that respect. Second, we have, in July, agreed to a program that is obviously subject to the debt restructuring that we have always consistently indicated as necessary. Third, we are not asking for any new measure, whatsoever, and we will simple be attentive to compliance with the commitments made by the Greek authorities …

“…we’ll continue discussions with the European partners, and the Greek authorities, and [other] members of the ‘quadriga’ [the lenders ]to see that this debt sustainability is arrived at and what measures will be necessary in the process.”