Wall Street Journal
January 27, 2012
The key goal of debt talks between Greece and its bond holders should be to ensure the government has a debt equivalent to 120% of gross domestic product by 2020, the head of the International Monetary Fund said Friday.
Speaking to Bloomberg Television in Davos, Switzerland, Christine Lagarde said she isn't optimistic or positive about the recent implementation of the government's economic program.
Ms. Lagarde said it isn't the IMF's role to decide how great a burden institutions or creditors should bear in ensuring that Greece can return to a sustainable fiscal path.
But she said the debt reduction agreed on by the government and its bond creditors must be "significant," and added that all of the interested parties must ensure that the government doesn't default.
"Everybody has to do what everybody has to do," she said.
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