IMF wants buy back of Greek debt settled

City A.M. Reporter
THE INTERNATIONAL Monetary Fund will not disburse Greece’s next bailout tranche until the country completes a voluntary buy back of its debt, it said yesterday.

Eurogroup finance ministers and the IMF agreed earlier this week to conduct the buy back as part of measures to make Greece’s debt sustainable and release urgent loans that help the near-bankrupt economy stay afloat.

IMF chief Christine Lagarde will wave through the recent review of Greece’s progress once commitments such as the buy back have been satisfied, an IMF spokesperson said.

Approval of the review is needed for the next tranche to be paid.