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IMF awaits steps on Greek debt relief

Xinhua, August 14, 2015 Adjust font size:

The International Monetary Fund said on Thursday that it would participate in new funding for Greece only when there is a plan to ensure the country's debt burden more sustainable.

"We look forward to working with the authorities to develop their program in more detail and for Greece's European partners to make decisions on debt relief that will allow Greece's debt to become sustainable," Delia Velculescu, the IMF's Greece mission chief, said in a statement on Thursday.

The official called Greece's third bailout deal with its international creditors a "very important step forward" .

She said the IMF would assess "its participation in providing any additional financing to Greece once the steps on the authorities' program and debt relief have been taken."

Greece has reached an agreement on a third bailout with its international creditors that will help the debt-laden country stay afloat in the euro zone and restore economic growth.

The much-awaited 85-billion-euro (95 billion U.S. dollar) cash-for-reforms agreement finally came after numerous rounds of negotiations since late January this year. Endi