IMF says it won't participate in Greek bailout without further reform

The International Monetary Fund said Thursday it wouldn't rejoin the Greek bailout program unless the country enacts certain controversial economic reforms, including an overhaul of its pension program. The comments contradict the current European bailout proposals for Greece, which included the fund as a lender. The announcement is the latest step in a simmering disagreement between the IMF and Germany over the terms of the Greek bailout. The IMF is calling for more extreme measures than European lenders say they can tolerate, including a fixed low interest rate for Greek debt and delayed repayments for bailout loans. A compromise is needed by June to stave off a Greek default. The euro and European stocks were little-changed after the announcement.

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