IMF supports loan repayment extension, says not to debt restructuring

The International Monetary Fund (IMF) is in favor of a decision to extending the repayment period of a loan to Greece, but opposes a restructuring of the Greek debt, David Halley, an adviser at IMF’s external relations department said on Thursday.

Speaking to reporters, the IMF official said: “We support a longer period of repayment for the Greek program which could have been achieved through the transformation of our current loan to an Extended Fund Facility,” Halley said, adding that “this is something we could recommend to our board. Of course, for this we have to work together with our European partners”.

Commenting on speculation over a restructuring of the Greek debt, he said “the Greek government has repeatedly said it did not intend to seek a restructuring of its debt something that it is not in the interests of the country and we agree with this”.