November 15, 2012 / 3:35 PM / in 5 years

IMF suggests Europe must do more for Greek debt

WASHINGTON, Nov 15 (Reuters) - The International Monetary Fund has done what it can to help Greece reach debt sustainability, a Fund spokesman said, leaving the window open for further action by the indebted country’s European lenders.

“The IMF has done what it needs to do in the context of its framework,” IMF spokesman William Murray told reporters on Thursday. “Clearly there has to be other actions taken to reach debt sustainability.”

When asked whether that meant Greece’s European lenders would need to do more, Murray said that is “presumably” who it meant. He declined to elaborate on what actions are needed.

The IMF also reiterated calls for the United States to act swiftly in resolving its ‘fiscal cliff’: $600 billion worth of automatic spending cuts and tax hikes that will kick in early next year unless the U.S. Congress can reach a deal.

Without a deal, the United States is likely to slip into recession, pulling the global economy down with it, Murray said.

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