A new Greece program needs debt restructure – Lagarde

WASHINGTON, D.C.: International Monetary Fund (IMF) Managing Director Christine Lagarde said on Wednesday (Thursday in Manila) that a new program to prop up Greece’s finances would require creditors to restructure debt.

In addition to the reforms Athens needs to undertake, she said, “the other leg is debt restructuring, which we believe is needed in the case of Greece for it to have debt sustainability.”