WASHINGTONA senior International Monetary Fund official Wednesday said it cant help Europe with fresh emergency financing for Greece because Athenss creditors havent yet committed to detailed debt relief.
The comments show that the agreement touted by European finance ministers last night to release fresh bailout cash for Greece hasnt nailed down the key elements the IMF says are critical to finally return the debt-laden country to health. Rather, the IMFs reserved support for the deal has paved the way for Germany to approve new funds and sets the stage for more tough negotiations later this year.
Fundamentally, we need …
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