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International Monetary Fund Managing Director Christine Lagarde said on Thursday that debt relief would be a necessary component of any new bailout package for Greece.
She pointed out that financing would be very important in case of any slippages from the last bailout program. Greece has failed to meet many of its bailout conditions.
"And financing is a factor of the level of the debt, which itself is a factor of the maturity and interest rates at which debt has been accumulated. Everything has to add up at the end of the day," Lagarde noted.
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