{
  "title": "Greece: 2021 Article IV Consultation-Press Release; and Staff Report",
  "publication": "IMF Staff Country Reports, July 16, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2021/07/15/greece-2021-article-iv-consultation-press-release-and-staff-report-462201",
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  "summary": "Greece entered the pandemic with an unfinished recovery, but the country has demonstrated resilience in facing COVID-19. The economy contracted by 8.2 percent in 2020, better than expected given Greece’s high dependence on tourism and pre-existing vulnerabilities.",
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    {
      "heading": "Economic performance and resilience",
      "content": "- The economy contracted by 8.2 percent in 2020.\n- Greece entered the pandemic with an unfinished recovery but \"demonstrated resilience in facing COVID-19.\"\n- Contraction was \"better than expected given Greece’s high dependence on tourism and pre-existing vulnerabilities.\""
    },
    {
      "heading": "Fiscal response and public financing",
      "content": "- \"The government provided among the largest on-budget fiscal stimuli in the euro zone.\"\n- Financing conditions were \"highly accommodative\" supported by supervisory measures and ECB accommodation."
    },
    {
      "heading": "Financial sector and monetary environment",
      "content": "- Supervisory and ECB accommodation \"shielded the banking sector.\"\n- Financing conditions remained \"highly accommodative.\""
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    {
      "heading": "Structural reforms and policy progress",
      "content": "- \"Despite the pandemic, reforms progressed in a number of areas, albeit at a slower pace than in recent years.\""
    },
    {
      "heading": "Subject areas and keywords (as listed on the page)",
      "content": "- Subject: COVID-19, Financial institutions, Fiscal policy, Health, International organization, Loans, Monetary policy, Public debt, Revenue administration, Tax administration core functions\n- Keywords: COVID-19, Europe, General government financing requirement, Global, Hercules securitization strategy, IMF repayment capacity, liability positions vis-à-vis nonresident, Loans, money market rate, SDR million, Tax administration core functions\n\n---\n\n Content in this bundle\n\n- 1grcea2021001\n  - 1grcea2021001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1grcea2021001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: July 16, 2021",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513587837.002",
    "The economy contracted by 8.2 percent in 2020.",
    "Greece entered the pandemic with an unfinished recovery but \"demonstrated resilience in facing COVID-19.\"",
    "Contraction was \"better than expected given Greece’s high dependence on tourism and pre-existing vulnerabilities.\"",
    "\"The government provided among the largest on-budget fiscal stimuli in the euro zone.\"",
    "Financing conditions were \"highly accommodative\" supported by supervisory measures and ECB accommodation.",
    "Supervisory and ECB accommodation \"shielded the banking sector.\"",
    "Financing conditions remained \"highly accommodative.\"",
    "\"Despite the pandemic, reforms progressed in a number of areas, albeit at a slower pace than in recent years.\"",
    "Subject: COVID-19, Financial institutions, Fiscal policy, Health, International organization, Loans, Monetary policy, Public debt, Revenue administration, Tax administration core functions",
    "Keywords: COVID-19, Europe, General government financing requirement, Global, Hercules securitization strategy, IMF repayment capacity, liability positions vis-à-vis nonresident, Loans, money market rate, SDR million, Tax administration core functions",
    "**1grcea2021001**"
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