Last Update: 20:26
In what seems like another deadlock, Greece, its creditors and the IMF are grappling with the latest review that is keeping them at odds from getting the necessary agreement going in order for Greece to receive its much-needed bailout funds.
IMF managing Director Christine Lagarde stated on Monday, that the International Monetary Fund is doing its very best to come to an agreement that is accepted by both sides, but at the same time cannot compromise its principles.
During the weekend, European Commission President Jean-Claude Juncker said that the bailout was on “shaky grounds” since the IMF has not decided what role it will play, while Greek Prime Minister Tsipras called the IMF “cowardly” by making “new demands for Greece.”
However, IMF’s Lagarde insists that reducing Greece’s debt is possible without lenders being forced to take a write-down of their loans; something that poses a specific concern to the EU’s creditors.
“We need to apply the principles that we apply to all countries because we are lending international community money,” she added.