IMF chief: Greek debt needs to be restructured, not forgiven

BERLIN: Greece’s debt needs “significant” restructuring, but debt forgiveness by the country’s creditors is not necessary, IMF chief Christine Lagarde said Wednesday, appearing to soften the lender’s previous stance.

“Debt will have to be restructured appropriately,” the International Monetary Fund’s managing director told German television channel ARD after meeting Chancellor Angela Merkel in Berlin.