{
  "title": "Greece: Request for Stand-By Arrangement",
  "publication": "IMF Staff Country Reports, May 12, 2010",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/greece-request-for-stand-by-arrangement-23840",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2016/12/31/greece-request-for-stand-by-arrangement-23840",
  "overlayPath": "/en/publications/cr/issues/2016/12/31/greece-request-for-stand-by-arrangement-23840/index.md",
  "summary": "Greek real GDP has declined by 2 percent in 2009, and indicators suggest that activity will weaken further in 2010. With the deteriorating fiscal results came downgrades of government bonds by rating agencies, and investors started backing out of Greek bonds, driving up their yields.",
  "sections": [
    {
      "heading": "Economic overview",
      "content": "- Greek real GDP has declined by 2 percent in 2009.\n- Indicators suggest that activity will weaken further in 2010.\n- The economy needs a strong and sustained adjustment program to correct fiscal imbalances and place debt on a downward path in the medium term."
    },
    {
      "heading": "Fiscal and market developments",
      "content": "- Deteriorating fiscal results led to downgrades of government bonds by rating agencies.\n- Investors started backing out of Greek bonds, driving up their yields.\n- Public debt dynamics are a key concern requiring medium-term correction."
    },
    {
      "heading": "Financial sector pressures",
      "content": "- Impaired loans are rising.\n- Borrowing costs in the interbank and wholesale markets have increased.\n- Increased costs and rising impaired loans are putting pressure on bank profitability."
    },
    {
      "heading": "Policy implications and program requirements",
      "content": "- A strong and sustained adjustment program is needed to:\n  - Correct fiscal imbalances.\n  - Place public debt on a downward path in the medium term.\n\n---\n\n Content in this bundle\n\n- Greece: Request for Stand-By Arrangement; IMF Country Report 10/111; May 5, 2010.\n  - Greece: Request for Stand-By Arrangement; IMF Country Report 10/111; May 5, 2010. (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Greece: Request for Stand-By Arrangement; IMF Country Report 10/111; May 5, 2010. (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2016/12/31/greece-request-for-stand-by-arrangement-23840/index.md)",
    "[Structured JSON version](/en/publications/cr/issues/2016/12/31/greece-request-for-stand-by-arrangement-23840/index.json)",
    "[Bundle manifest](/en/publications/cr/issues/2016/12/31/greece-request-for-stand-by-arrangement-23840/bundle-manifest.json)",
    "Authors: Arrangement Greek",
    "Published: May 12, 2010",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781455206902.002",
    "Greek real GDP has declined by 2 percent in 2009.",
    "Indicators suggest that activity will weaken further in 2010.",
    "The economy needs a strong and sustained adjustment program to correct fiscal imbalances and place debt on a downward path in the medium term.",
    "Deteriorating fiscal results led to downgrades of government bonds by rating agencies.",
    "Investors started backing out of Greek bonds, driving up their yields.",
    "Impaired loans are rising.",
    "Borrowing costs in the interbank and wholesale markets have increased.",
    "Increased costs and rising impaired loans are putting pressure on bank profitability.",
    "A strong and sustained adjustment program is needed to:",
    "**Greece: Request for Stand-By Arrangement; IMF Country Report 10/111; May 5, 2010.**"
  ],
  "related": [
    {
      "title": "Greece: Request for Stand-By Arrangement; IMF Country Report 10/111; May 5, 2010.",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2010/_cr10111.pdf",
      "summary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2010/_cr10111.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2010/_cr10111.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/cr/issues/2016/12/31/greece-request-for-stand-by-arrangement-23840/index.md",
    "json": "/en/publications/cr/issues/2016/12/31/greece-request-for-stand-by-arrangement-23840/index.json",
    "bundleManifest": "/en/publications/cr/issues/2016/12/31/greece-request-for-stand-by-arrangement-23840/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-14T08:51:31.932Z"
}