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Mohamed A El-Erian: IMF gets smart about Greece

This time, the IMF is seeking to abide by the harsh lessons of its own past and avoid making yet another costly mistake

Mohamed A El-Erian 

Mohamed A El-Erian By hesitating to play a full financing role in the latest bailout programme for Greece, the International Monetary Fund risks alienating both the Greek government and its European partners. Yet the institution's approach isn't just warranted; it could well hold the key to the success of the challenging task of restoring Greece's growth and financial viability within the euro zone. The IMF, although willing to join in the creditor negotiations with Greece, has indicated that its willingness (indeed, ability) to participate in a new funding arrangement depends on progress on some ...

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First Published: Sat, August 01 2015. 21:09 IST