IMF won’t join Greece’s rescue unless creditors agree on debt relief – media

‘The IMF said it can’t reach a ‘staff level agreement’ on Greece’s €86 billion bailout at this stage and will make the decision on further involvement in the deal only after Athens agrees on a ‘comprehensive set of reforms’ and creditors on debt relief.

The IMF will not take part in a new bailout program for Greece for several months or even until next year, according to a “strictly confidential” four-page summary of the fund’s board meeting Wednesday seen by Financial Times. The IMF said it will only “participate in policy discussions” to make sure the new bailout deal “is consistent with what the fund has in mind.”

The fund said it will only decide whether to participate during ‘stage two’ after Greece has “agreed on a comprehensive set of reforms” and after creditors have “agreed on debt relief.”’

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