IMF gives nod to ECB bond-buyback plan for Greece

11/1/2012 | Wall Street Journal, The

The European Central Bank's proposal to buy back Greek bonds has support from the International Monetary Fund if purchases are "implemented in such a way to deliver a meaningful reduction" in the country's debt, IMF spokesman Gerry Rice said. "It is critical for the programme's credibility that Greece's debt burden be sustainable," he said.

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