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IMF says PSI to extend to 2014, proposals need time
ATHENS, July 13 | Wed Jul 13, 2011 1:13pm EDT
ATHENS, July 13 (Reuters) - The International Monetary Fund (IMF) said on Wednesday that Greece had hired advisers to help design private sector voluntary debt rollover and that more time was needed to flesh out proposals.
In its latest review of the debt-choked country, the IMF said its staff had cautioned the government against giving incentives for creditors to participate.
"The scope of the PSI operation is under discussion, but would likely extend through at least mid-2014 and aim to draw in wide participation by the private sector to deliver a substantial reduction in Greece's funding needs," it said.
ATHENS, July 13 | Wed Jul 13, 2011 1:13pm EDT
ATHENS, July 13 (Reuters) - The International Monetary Fund (IMF) said on Wednesday that Greece had hired advisers to help design private sector voluntary debt rollover and that more time was needed to flesh out proposals.
In its latest review of the debt-choked country, the IMF said its staff had cautioned the government against giving incentives for creditors to participate.
"The scope of the PSI operation is under discussion, but would likely extend through at least mid-2014 and aim to draw in wide participation by the private sector to deliver a substantial reduction in Greece's funding needs," it said.