The fund has been pushing for a restructuring as a condition of giving its support to Greece's latest bailout package.
The fund now has the option of short-term debt 're-profiling' for countries whose bailout needs exceed normal IMF borrowing levels.
Many companies are back to the habit of holding on tightly to their cash reserves. Is a softening in business confidence to blame?
"Clearly, the Europe of austerity has won," said Greece's reform minister.
The IMF forecasts lower annual global growth in 2015 largely due to the impact of weaker first-quarter growth in advanced economies.
While the Greek finance minister says he has made a credible offer to creditors, 19 EU leaders will meet for discussions at "the highest political levels."
Weekend talks break down after after Greece claims creditors’ representatives had no authority to negotiate a deal.
Discussions between EU and Greece bring up possibility of default at end of this month.
Greece has until June 30 to pay the International Monetary Fund a total of 1.5 billion euros.
While some countries face 'debt sustainability constraints' that leave them no choice but to pay down debt, others can fund themselves at very low rates.
The IMF's Christine LaGarde welcomes confirmation that a $505 million payment would beat Greece's debt deadline.
Greece reverses course and says it will indeed make its 450 million euro payment to the International Monetary Fund on April 9.
