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IMF wants 40 billion euro cut in Greek debt, more later-source

Reuters – an hour ago
By Jan Strupczewski. BRUSSELS | Mon Nov 26, 2012 1:22pm EST. BRUSSELS (Reuters) – The International Monetary Fund wants euro zone finance ministers to agree to cut Greece’s debt by 20 percent of GDP now and commit to further debt reduction in the future to get the country’s finances back on a sustainable path, a source familiar with EU-IMF talks said on Monday.An immediate 20 percentage-point cut, equal to 40 billion euros, could mostly be achieved through lowering interest rates and extending maturities on loans to Greece, the source said.