IMF Managing Director Visits Greece to Discuss Economic Developments

Press Release No. 10/475
December 7, 2010

Managing Director Dominique Strauss-Kahn of the International Monetary Fund (IMF) today concluded his visit to Greece to discuss recent economic developments.
Mr. Strauss-Kahn met with President Karolos Papoulias, Prime Minister George Papandreou, Finance Minister George Papaconstantinou, Governor of the Bank of Greece George Provopoulos, President of Parliament Philippos Petsalnikos, members of the Economic Affairs Parliamentary Committee, and the leader of New Democracy, Antonis Samaras.

At the conclusion of his visit, Mr. Strauss-Kahn made the following statement:

“I greatly appreciate the opportunity to visit Athens and exchange views with the Greek authorities, members of parliament, and the opposition. I commend the efforts being undertaken by the Greek government and people to implement their ambitious reform program aimed at modernizing the economy, strengthening competitiveness, and restoring growth and employment. The IMF, alongside our European partners, is fully committed to support Greece’s efforts, including to help ensure that the economic program is socially well-balanced and fair, with protection for the most vulnerable in society.

“Much has been achieved in the six months since the program began, and more still needs to be done. Indeed, the next phase of structural reform is even more crucial to unlock the true potential of the Greek economy and the Greek people. This is not an easy task and it will take time for the various measures to take hold and produce full benefits. The progress made so far, however, offers a sound platform on which to build: the fiscal deficit is narrowing; public financial management and tax administration are improving; the financial sector is strengthening; pension reform is completed, and other reforms have begun—now is the time to implement and accelerate them.

“This is a defining moment for Greece. While difficult challenges lie ahead, I am confident from my discussions here that the government and people are determined to do what it takes to ensure that Greece emerges from the crisis even stronger than before. I want to assure you that the IMF will do all we can to help Greece succeed.”



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