{
  "title": "Statement by IMF Managing Director Christine Lagarde on Greece",
  "publication": "IMF News, June 22, 2018",
  "sourceUrl": "https://www.imf.org/en/news/articles/2018/06/21/pr18252-statement-by-imf-managing-director-christine-lagarde-on-greece",
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  "summary": "We commend Greece and its European partners on the completion of the fourth and final review under the European Stability Mechanism (ESM) program.",
  "publishDate": "2018-06-22",
  "sections": [
    {
      "heading": "Summary of the statement",
      "content": "- Date: June 21, 2018\n- Press Release No. 18/252\n- Key message: Commends Greece and its European partners on the completion of the fourth and final review under the European Stability Mechanism (ESM) program.\n- Core outcome highlighted: \"The additional debt relief measures announced today will mitigate Greece’s medium-term refinancing risks and improve its medium-term debt prospects.\""
    },
    {
      "heading": "Debt relief, risks, and safeguards",
      "content": "- Findings and assessments:\n  - Completion of the fourth and final review under the ESM program.\n  - Additional debt relief measures will mitigate Greece’s medium-term refinancing risks.\n  - Additional debt relief measures will improve Greece’s medium-term debt prospects.\n  - These results are described as \"very welcome\" and characterized as beneficial for both Greece and the euro area.\n- Safeguards and conditionality:\n  - The IMF \"take[s] note of the commitment by Greece’s European partners to keep debt sustainability under review and to take additional debt relief measures if needed.\"\n  - Such additional measures \"would provide important safeguards if the more optimistic long-run macroeconomic assumptions of the European institutions were not realized.\""
    },
    {
      "heading": "IMF engagement and next steps",
      "content": "- Planned IMF actions:\n  - The IMF \"will examine the sustainability of Greece’s debt in the course of our upcoming Article IV Consultation with Greece, which starts next week.\"\n  - The IMF notes that \"time has clearly run out to enter into a Stand-by Arrangement.\"\n  - The IMF will \"remain fully engaged in supporting Greece in sustaining its economic recovery and achieving more robust growth in the post-program period.\"\n  - IMF engagement will include post-program monitoring, with precedent in \"other similar cases, notably Cyprus, Ireland and Portugal.\""
    },
    {
      "heading": "Press and media contact",
      "content": "- Office: IMF Communications Department, MEDIA RELATIONS\n- PRESS OFFICER: Andreas Adriano\n- Phone: +1 202 623-7100\n- Email: MEDIA@IMF.org\n\nStatement by IMF Managing Director Christine Lagarde on Greece — June 21, 2018\n\n---\n\n\n References\n\n- Christine Lagarde\n- Cyprus and the IMF\n- Greece and the IMF\n- Ireland and the IMF\n- Luxembourg 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/2018/06/21/pr18252-statement-by-imf-managing-director-christine-lagarde-on-greece"
    }
  ],
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    "Published: June 22, 2018",
    "Date: June 21, 2018",
    "Press Release No. 18/252",
    "Key message: Commends Greece and its European partners on the completion of the fourth and final review under the European Stability Mechanism (ESM) program.",
    "Core outcome highlighted: \"The additional debt relief measures announced today will mitigate Greece’s medium-term refinancing risks and improve its medium-term debt prospects.\"",
    "Findings and assessments:",
    "Safeguards and conditionality:",
    "Planned IMF actions:",
    "Office: IMF Communications Department, MEDIA RELATIONS",
    "PRESS OFFICER: Andreas Adriano",
    "Phone: +1 202 623-7100",
    "Email: MEDIA@IMF.org",
    "[Christine Lagarde](https://www.imf.org/en/About/senior-officials/Bios/christine-lagarde)",
    "[Cyprus and the IMF](http://www.imf.org/external/country/CYP/index.htm)",
    "[Greece and the IMF](http://www.imf.org/external/country/GRC/index.htm)",
    "[Ireland and the IMF](http://www.imf.org/external/country/IRL/index.htm)",
    "[Luxembourg and the IMF](http://www.imf.org/external/country/LUX/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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