IMF chief says Greece needs debt restructuringApril 18, 2017 - 14:11 AMT PanARMENIAN.Net - Head of the International Monetary Fund Christine Lagarde has warned that the IMF is adamant that Greece needs debt relief - and it won’t join its bailout programme until this is tackled, The Guardian reports. During her interview with European reporters, Lagarde said "if the Greek debt is not sustainable in accordance with the IMF’s rules and on the basis of reasonable parameters, we will not participate in the program. Asked whether the staff of the IMF is now convinced that the debt is not sustainable as it is, the IMF chief said: "Based on the debt sustainability analysis, we will determine how much debt needs to be restructured. But there is no question in our mind that a degree of debt restructuring is needed. The Greek government, which has more than 7 billion euros ($7.5 billion) in bond payments due in July, has balked at implementing mandated reforms to its energy and labor markets while also resisting IMF calls for additional pension cuts. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |