Back
19 May 2015
IMF Lagarde notes some progress in Greece talks
FXStreet (Córdoba) - There has been "some progress" in talks between Greece and its international lenders according to the managing director of the International Monetary Fund Christine Lagarde.
"We have constant discussions and are making some progress in those negotiations with the Greek authorities", Lagarde said at the Bretton Woods Committee annual meeting in Washington. "But it’s clearly a difficult situation".
She said the IMF needs to be mindful of economic and financial stability, "but also the accountability for the commitments that have been made with the international community."
Greece and its international creditors are trying to reach a deal that would prevent the Hellenic Republic from running out of cash. However, disagreements on employment and pension reforms have put Greece at risk of a default and even an exit from the Eurozone.
Lagarde said the fund can show always flexibility in bailout programs. "But at the end of the day, it has to add up", she said. "We are not the servants of political ideology, we are the servants of financial stability and economic development", IMF Chief added.
"We have constant discussions and are making some progress in those negotiations with the Greek authorities", Lagarde said at the Bretton Woods Committee annual meeting in Washington. "But it’s clearly a difficult situation".
She said the IMF needs to be mindful of economic and financial stability, "but also the accountability for the commitments that have been made with the international community."
Greece and its international creditors are trying to reach a deal that would prevent the Hellenic Republic from running out of cash. However, disagreements on employment and pension reforms have put Greece at risk of a default and even an exit from the Eurozone.
Lagarde said the fund can show always flexibility in bailout programs. "But at the end of the day, it has to add up", she said. "We are not the servants of political ideology, we are the servants of financial stability and economic development", IMF Chief added.