Lagarde: IMF not ready to join ‘latest version’ of Greek bailout

International Monetary Fund Managing Director Christine Lagarde repeated on Thursday that the Fund is “not ready” to participate in what she called the “latest version” of the Greek bailout.

Lagarde spoke ahead of a G20 meeting in Hangtzu, China, where she told Reuters that she was “encouraged by Greece’s recent privatization efforts and was hopeful that reform legislation would soon be passed and implemented. But the IMF is still not ready to participate in the latest version of Greece’s bailout.”

“We are not party to the program because I have said repeatedly that the program has to walk on two legs. One, there has to be significant reforms and second there has to be a debt that is sustainable by our standards and our measurements and this at this point in time is not the case,” Lagarde added.

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