Euro zone support key for credible Greek program - IMF
WASHINGTON, Dec 13 (Reuters) - Commitments from Greece's European lenders to help the country deal with its massive debt ensures the bailout program remains sustainable, an International Monetary Fund spokesman said on Thursday.
"As you know, Greece's European partners have stated that they will find a way to deliver on the commitments of the Eurogroup to ensure financing remains adequate and debt remains on a sustainable track," IMF spokesman Gerry Rice told reporters.
"In terms of a reassurance, I would say that statement is fairly clear."
The IMF's support for the Greek bailout is seen as vital to the program's continued credibility.
The euro zone agreed on Thursday to provide nearly 50 billion euros ($64 billion) in long-delayed aid to Athens, helping the country avoid a catastrophic default after it repeatedly missed fiscal targets agreed with the European Union and the IMF.
Jean-Claude Juncker, the chairman of the 17-nation euro area's finance ministers, said the bloc stood ready to take new steps if necessary to bring Greece's debt down to 124 percent of national income by 2020.
Rice, the IMF spokesman, also said the IMF board would complete the first review of Greece's program in January, when IMF Managing Director Christine Lagarde plans to recommend that the board disburse the Fund's next chunk of aid to Greece.