IMF Director Lagarde rejects possibility Greece could obtain delay on upcoming debt payments

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The head of the International Monetary Fund is rejecting suggestions that Greece could obtain a delay on debt payments it needs to make to the IMF in May.

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IMF Managing Director Christine Lagarde is telling reporters in Washington that a delay in Greece's IMF repayments is "clearly not a course of action" that would be recommended. She said no advanced economy has ever sought such a payment delay from the IMF.

She said that her advice to Greece remains the same. She says the country needs to pursue policies that will restore stability to the country's economy. She said that goal is not achieved through "last-minute accords" but by making necessary reforms.

Lagarde's comments came at a news conference at the beginning of the IMF's spring meetings.