Greece will need more debt relief than previously expected: IMF

The International Monetary Fund has indicated in a secret report that Greece will need more debt relief than its creditors are prepared to provide, Reuters reports.

Read: Despite hope for a new bailout, Grexit threat remains

The Hellenic republic would have to get a 30-year grace period on all its European debt, including new loans, and significant maturity extension, according to Reuters. Alternatively, the creditors would have to provide annual fiscal transfers to Greece or accept great haircuts on the Greek loans.

Read: Greece requests new bailout

Read the Reuters story here.