The International Monetary Fund’s general director Christine Lagarde insisted upon the need for debt relief and the implementation of reforms in Greece, on the sidelines of the Women in the World Summit.

Mrs. Lagarde argued that the Greek pension system was at risk unless the necessary reforms are carried out. When referring to the need for debt relief, she spoke of extending loan payments and reducing interest rates, rather than outright haircut or write off.

The IMF director also expressed her hope that there will be progress in the negotiations between the Greek government and institutions over the next few weeks.