Greece makes strong start on reforms: IMF

Author (Person)
Series Title
Series Details 19.7.10
Publication Date 19/07/2010
Content Type

Greece has won praise from the International Monetary Fund in July 2001 for making a 'strong start' to implementing a three-year programme of fiscal and structural reforms aimed at overcoming its debt crisis.

But experts from the fund warned that analysts are still sceptical about whether the country can avoid a sovereign debt restructuring during this period – an event that could threaten the stability of the eurozone.

A report from the IMF, said, 'Greece’s weak reputation is presenting credibility costs that can only be overcome by strong and full implementation (of the programme)'.

Related Links
ESO: Background information: The Greek debt crisis of 2010 http://www.europeansources.info/record/the-greek-debt-crisis-key-sources/
IMF: Country Report, No.217, 2010: Greece: Stand-By Arrangement - Review Under the Emergency Financing Mechanism http://www.imf.org/external/pubs/ft/scr/2010/cr10217.pdf
ESO: Background information: The Economic Adjustment Programme for Greece. Interim Review (Athens, 14 – 17 June 2010) http://www.europeansources.info/record/the-economic-adjustment-programme-for-greece-interim-review-athens-14-17-june-2010/
BBC News, 16.7.10: Can Greeks escape defaulting? http://www.bbc.co.uk/blogs/thereporters/gavinhewitt/2010/07/can_greeks_escape_defaulting.html

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