IMF warns on private-sector deal for Greece

WASHINGTON (AFP) - The International Monetary Fund warned on Friday that Europe should not put through a 50 billion euro (S$87.9 billion) private-sector restructuring plan for Greek bonds until Athens gets its economy back on course.
Mr Antonio Borges, head of the IMF's European department, voiced caution about a European Union plan that includes the private sector in a second rescue package for debt-riddled Greece.
'This programme is still in the books. It still may go ahead in the fall,' he said at a news conference at the IMF-World Bank annual meetings in Washington.
'It should never be put in place unless... we're confident that Greece is back on track,' Mr Borges said.

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