IMF chief welcomes results of Greek bond buyback

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December 12, 2012 8:14 AM EST

Christine Lagarde, the head of the International Monetary Fund, on Tuesday welcomed the results of Greece's bond buyback scheme, but said she would leave further comment to European economic authorities.

In the buyback, bids totalled 31.8 billion euros, a senior euro zone official said after the deadline, but the average price paid for the bonds was slightly above expectations, meaning the total debt reduction will be less than planned.

(Reporting by Jack Kimball)

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