TEXT-IMF chief Lagarde's statement on Greek debt programme

Thu Dec 13, 2012 6:57am EST

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Dec 13 (Reuters) - Following is the text of a statement by IMF Managing Director Christine Lagarde on the euro zone's agreement with Greece on its debt reduction plan.

"I welcome the Eurogroup's decision to support the debt buy back operation for Greece and its assurances to provide additional debt relief if necessary and provided Greece has achieved a primary budget balance in 2013. These steps will ensure that Greece's debt-to-GDP declines to 124 percent by 2020 and to substantially below 110 percent by 2022.

"On this basis, I intend to recommend to the Fund's Executive Board that it completes the first review of Greece's Fund-supported program. I expect that a Board meeting could take place in January."