Greece: Fifth Review Under the Extended Arrangement Under the Extended Fund Facility, and Request for Waiver of Nonobservance of Performance Criterion and Rephasing of Access
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
This paper discusses Greece’s Fifth Review Under the Extended Arrangement Under the Extended Fund Facility (EFF), and Request for Waiver of Nonobservance of Performance Criterion and Rephasing of Access. Greece has gone from having the weakest to the strongest cyclically adjusted fiscal position within the euro area in just four years. But more fiscal adjustment is needed to restore debt sustainability. Structural reforms are progressing, although unevenly. The redoubling of efforts to liberalize products and service markets are much welcomed. On the basis of reforms undertaken in the context of this review, and the government’s policy commitments going forward, the IMF staff supports the completion of the fifth review.
Series:
Country Report No. 2014/151
Subject:
Banking Credit Expenditure Financial institutions Financial statements Fiscal consolidation Labor Loans Money Nonperforming loans Public financial management (PFM)
English
Publication Date:
June 10, 2014
ISBN/ISSN:
9781498338196/1934-7685
Stock No:
1GRCEA2014001
Pages:
226
Please address any questions about this title to publications@imf.org