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IMF Lagarde Sees Greek Finance Gap Beyond Fiscal Measures

Greece faces a financing gap that won’t be solved by budget measures being discussed because a weak economy and delayed privatizations have worsened its fiscal situation, International Monetary Fund Managing Director Christine Lagarde said.

Lagarde said efforts being discussed by the Greek government and the so-called troika to find 11.5 billion euros in savings won’t be enough to put back on track Greece’s 130 billion-euro (168 billion) bailout jointly funded by the IMF, the European Commission and European Central Bank.