IMF Said to Seek Delay of Greek Loan Repayments Until 2040
- Proposal contained in debt sustainability note for Greece
- Greece’s banks will need more capital, according to document
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The International Monetary Fund proposed that Greece shouldn’t make payments on its European bailout loans until 2040, underscoring key differences with euro-area lenders over the future of the Greek economy.
The Washington-based fund’s debt-restructuring proposal, contained in an IMF document obtained by Bloomberg News, goes much further than anything advanced by euro-area creditors who are locked in talks to trigger Greece’s next aid payout. Finance ministers from the currency union will meet on May 24 in Brussels to discuss the debt-relief options.