RTRS: IMF calls Greek debt swap key to restoring Greek growth
(Reuters) - The International Monetary Fund welcomed on Friday the private sector's exchange of Greek government bonds for new debt as part of a plan to rescue the deeply indebted nation.
"This is an important step that will dramatically reduce Greece's medium-term financing needs and contribute to debt sustainability," the IMF said in a statement.
"This support by the private sector is a key component of the contribution by all parties to put Greece's economy on a path of growth and financial stability," it said.
Around 86 percent of investors submitted their debt as part of the swap, which closed late Thursday.
