{
  "title": "Press Release: Letter by IMF Managing Director Christine Lagarde to the President of the Euro Group on Greece",
  "publication": "IMF News, February 14, 2015",
  "sourceUrl": "https://www.imf.org/en/news/articles/2015/09/14/01/49/pr1571",
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  "summary": "Author: Christine Lagarde, Managing Director, International Monetary Fund.",
  "publishDate": "2015-02-14",
  "sections": [
    {
      "heading": "Summary of the letter (dated February 23, 2015)",
      "content": "- Author: Christine Lagarde, Managing Director, International Monetary Fund.\n- Recipient: The Honorable Jeroen Dijsselbloem, President of the Eurogroup, Finance Minister, Kingdom of the Netherlands.\n- Context: My Staff has reviewed the list of measures that the Greek authorities prepared over the weekend."
    },
    {
      "heading": "Key findings and assessments",
      "content": "- The IMF staff view:\n  - The list “covers the broad topics that should be on the new Government’s agenda.”\n  - The list “is sufficiently comprehensive to be a valid starting point for a successful conclusion of the review,” as called for by the Euro Group at its last meeting — noting that a final determination should rest primarily on an assessment by Member States themselves and by the relevant European institutions.\n- Specificity and clarity:\n  - While the authorities’ list is comprehensive, it is generally not very specific, which is perhaps to be expected considering that the government is new in office.\n  - In some areas, like combating tax evasion and corruption, the IMF is encouraged by what appears to be a stronger resolve on the part of the new authorities in Athens, and looks forward to learn more about their plans."
    },
    {
      "heading": "Areas of concern (where the letter finds insufficient commitments)",
      "content": "- The letter notes lack of clear assurances or unequivocal undertakings in:\n  - Comprehensive pension policy reforms.\n  - VAT policy reforms.\n  - Continued implementation of already-agreed policies for opening up closed sectors.\n  - Administrative reforms.\n  - Privatization.\n  - Labor market reforms.\n- Importance: The IMF emphasizes that such commitments are critical for Greece’s ability to meet the basic objectives of its Fund-supported program, and these are the areas subject to most of the structural benchmarks agreed with the Fund.\n- Implication: Discussions on a completion of the review cannot be confined within the policy perimeters outlined in the Government’s list."
    },
    {
      "heading": "Next steps, cooperation, and objectives",
      "content": "- The IMF and its staff express willingness to work with the new Government on finding common ground.\n- Objective: Concluding the 6th review of the Fund-supported program as soon as possible.\n- Closing: “Thank you for all your efforts to get us to this point.” — Christine Lagarde"
    },
    {
      "heading": "Administrative and contact details (from the press release header)",
      "content": "- Press Release No. 15/71\n- Date on page header: February 14, 2015\n- Media contact: IMF COMMUNICATIONS DEPARTMENT, Media Relations\n  - E-mail: media@imf.org\n  - Phone: 202-623-7100\n\nInternational Monetary Fund\n\n---\n\n\n References\n\n- Greece and the IMF\n- Kingdom of the Netherlands-The Netherlands and the IMF\n- Press Releases\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2015/09/14/01/49/pr1571"
    }
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    "Published: February 14, 2015",
    "Author: Christine Lagarde, Managing Director, International Monetary Fund.",
    "Recipient: The Honorable Jeroen Dijsselbloem, President of the Eurogroup, Finance Minister, Kingdom of the Netherlands.",
    "Context: My Staff has reviewed the list of measures that the Greek authorities prepared over the weekend.",
    "The IMF staff view:",
    "Specificity and clarity:",
    "The letter notes lack of clear assurances or unequivocal undertakings in:",
    "Importance: The IMF emphasizes that such commitments are critical for Greece’s ability to meet the basic objectives of its Fund-supported program, and these are the areas subject to most of the structural benchmarks agreed with the Fund.",
    "Implication: Discussions on a completion of the review cannot be confined within the policy perimeters outlined in the Government’s list.",
    "The IMF and its staff express willingness to work with the new Government on finding common ground.",
    "Objective: Concluding the 6th review of the Fund-supported program as soon as possible.",
    "Closing: “Thank you for all your efforts to get us to this point.” — Christine Lagarde",
    "Press Release No. 15/71",
    "Date on page header: February 14, 2015",
    "Media contact: IMF COMMUNICATIONS DEPARTMENT, Media Relations",
    "[Greece and the IMF](http://www.imf.org/external/country/GRC/index.htm)",
    "[Kingdom of the Netherlands-The Netherlands and the IMF](http://www.imf.org/external/country/NLD/index.htm)",
    "[Press Releases](https://www.imf.org/en/news/searchnews)",
    "[PRESS CENTER](http://presscenter.imf.org/)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
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