IMF’s Lagarde says restructuring Greece’s debt essential

A restructuring of Greece’s debt is essential so that the future of the Greek economy can be sustainable, International Monetary Fund (IMF) Managing Director Christine Lagarde said in a statement to the Italian newspaper Il Sole 24 Ore.

Regarding Greece, Lagarde said the IMF’s position was “very clear” and that it has approved a stand-by loan in principle on the basis on certain elements, with chief among them being the need to restructure Greece’s debt.