Greece: 2021 Article IV Consultation-Press Release; and Staff Report

International Monetary Fund

No 2021/154, IMF Staff Country Reports from International Monetary Fund

Abstract: 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. The government provided among the largest on-budget fiscal stimuli in the euro zone and supervisory and ECB accommodation shielded the banking sector and kept financing conditions highly accommodative. Despite the pandemic, reforms progressed in a number of areas, albeit at a slower pace than in recent years.

Keywords: liability positions vis-à-vis nonresident; money market rate; IMF repayment capacity; General government financing requirement; Hercules securitization strategy; SDR million; COVID-19; Loans; Tax administration core functions; Global; Europe (search for similar items in EconPapers)
Pages: 94
Date: 2021-07-16
New Economics Papers: this item is included in nep-isf and nep-mac
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