Washington: The International Monetary Fund is calling on European creditor nations to commit to "upfront unconditional" debt relief for Greece as part of an international rescue program for the debt-laden nation.


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The IMF is involved in talks on making Greece's debt sustainable to approve the country's latest reforms and make new loans available.


In an analysis released today, the Washington-based lender says that debt relief is "critical" to show markets that Greece's creditors are committed to helping it navigate the crisis.


The statement comes a day ahead of a meeting among Europe's top officials in Brussels to discuss the issue. Eurozone countries have previously balked at discussing debt reduction until a review is completed into how Greece has implemented austerity measures needed to receive an 86-billion euro (USD 98 billion) rescue package.