Lagarde 'confident' Greece will make IMF payment Friday

GMT 15:06 2015 Thursday ,04 June

Arab Today, arab today Lagarde 'confident' Greece will make IMF payment Friday

Managing Director Christine Lagarde
Washington - AFP

IMF chief Christine Lagarde said Thursday  she was "confident" that Greece will make a key debt payment on Friday, as the country mulls a new proposal from official creditors.

Lagarde said the proposal offered by European creditors in talks Wednesday, with revised performance requirements for the Greek government, "clearly demonstrated significant flexibility on the part of the institutions."

The Greek government was weighing the latest proposed bailout plan after four hours of talks late Wednesday between European Commission head Jean-Claude Juncker and Greek Prime Minister Alexis Tsipras.

The plan, from the European Commission, the European Central Bank, and the IMF, reportedly offered the country some concessions on fiscal targets to help enhance growth.

"We have demonstrated flexibility and we continue to be flexible," Lagarde stressed.

The new plan is "intended to ease the adjustment and facilitate the implementation for the people of Greece," she added, amid worries it will impose more austerity on the country.

Agreement on the plan would lead to the release of another 7.2 billion euros ($8.1 billion) from the three official creditors, essential for Athens to be able to continue paying off its huge debts.

The country needs to repay 300 million euros to the IMF on Friday and a total of 1.6 billion this month, and many analysts believe it currently lacks the funds to do so.

However, Lagarde said she took to heart statements by Greek officials, including late Wednesday, that it will honor the payment on Friday as it has done in the past.

"I'm confident that that would continue to be the case," Lagarde said at a press conference in Washington.

"The prime minister said 'do not worry.'"

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