It's simply that the IMF isn't hung up about debt but about neo-lib 'reforms'.

_{*Lunatic*, n.
One whose delusions are out of fashion.}

But from what I know Lagard buys 100% into Expansionary austerity.

Yes, while making occasional token mouth-noises to the contrary, I suppose to reassure attentive observers that she is not really as stupid as her actions suggest.

A bit like when sadists say 'This is going to hurt me more than it hurts you'.

Another well-coiffed confabulator of the first water...

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty