By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Christine Lagarde, Managing Director (MD) of the International Monetary Fund (IMF) said on Sunday she is disappointed with Greece authorities on the $1.7 billion due June 30.

“I have briefed the IMF Executive Board on the inconclusive outcome of recent discussions on Greece in Brussels. I shared my disappointment and underscored our commitment to continue to engage with the Greek authorities,” Lagarde said.

According to the IMF chief, the coming days will clearly be important and she approves of  the statements of the Eurogroup and the European Central Bank (ECB) to make full use of all available instruments to preserve the integrity and stability of the euro area. “These statements underscore that the euro area today is in a strong position to respond to developments in a timely and effective manner, as needed,” she added.

She affirmed that the IMF also will continue to carefully monitor developments in Greece and other countries in the vicinity and stands ready to provide assistance as needed.

“I continue to believe that a balanced approach is required to help restore economic stability and growth in Greece, with appropriate structural and fiscal reforms supported by appropriate financing and debt sustainability measures. The IMF is prepared to continue to pursue that approach with the Greek authorities and our European partners,” Lagarde said.