IMF Deputy MD Zhu Says Greece Needs Debt Relief to Aid Economy

Greece needs debt relief to aid the economy after agreeing to a range of austerity measures in exchange for a bailout, said Zhu Min, deputy managing director of the International Monetary Fund.

“The financing is clearly a very important issue for the Greek economy and the debt relief is also an important issue,” Zhu said in an interview on Tuesday in Ethiopia’s capital, Addis Ababa, where he is attending a development finance conference. “Given the debt ratio is way high, something we need to think of is a proper way to do the debt relief profile and debt restructuring to reduce the burdens and help the economy move forward.”