The General Director of the International Monetary Fund Christine Lagarde stated that the IMF will not abandon the Greek program, but noted that its participation may adapt according to any changes to the program itself.

During a Q&A at the IMF and World Bank Spring Meetings, Mrs. Lagarde told journalists that “our form of participation may vary depending on the commitments of Greece and the undertaking of the European partners, but we will not walk away”.

While the IMF chief underlined the need for debt relief, she further explained that this “does not necessarily mean a haircut”, adding that relief can be provided in the form of extending maturities, a repayment holiday or reducing interest rates.