Greece’s euro zone creditors, notably Germany, have ruled out a writedown but are willing to consider other forms of restructuring such as a lengthening maturities.
Asked about those differences, IMF Managing Director Christine Lagarde told Saturday’s edition of Le Temps: “The debate on cancelling the debt has never been open I don’t think it is necessary to open it if things go well…
“We are talking about extending maturities, reducing rates, (making) exemptions for a certain period of time. We are not speaking about cancelling debt.”
The interview made no mention of whether the IMF will take part in the new bailout, which Lagarde has previously said it will make a decision on by October.