The International Monetary Fund has rejected requests from Greece to extend the deadlines on loan repayments, according to reports.
IMF managing director Christine Lagarde said yesterday that Greek ministers should instead focus on restructuring the debt-ridden nation’s economy rather than seeking an extension, the Wall Street Journal reports.
“It’s clearly not a course of action that would actually fit or be recommendable,” Lagarde said.
“Payment delays have not been granted by the board of the IMF in 30 years.
“We have been able to express and explain the policy of the IMF in terms of payment delays and give the precedents and history of that to [Greek finance minister Yanis] Varofakis.”
Greece has so far repaid all of its IMF loans on time, but Lagarde nonetheless said that the Greek government should focus on designing reforms, rather than seeking to renegotiate with its creditors.
“My advice is to get on with the work,” she said.
The comments come after German finance minister Wolfgang Schäuble played down prospects of a resolution from bailout talks between Greece eurogroup finance ministers.
The eurogroup will meet with Greece in Riga, Latvia, on 24 April.