Greece: Second Review Under the Stand-By Arrangement: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Greece

International Monetary Fund

No 2010/372, IMF Staff Country Reports from International Monetary Fund

Abstract: A very ambitious fiscal adjustment effort is under way. Fiscal institutional and sectoral reforms have been elaborated for a more durable adjustment. Greece’s determination toward a comprehensive modernization of the health sector, beginning with a far-reaching reform of state enterprises and redoubling efforts to improve tax administration, is commended. An acceleration of reforms is essential to restore robust economic growth. Liquidity remains precariously tight. Pressure points are evident in the public sector, and still generally unfavorable investor sentiments suggest that the program is still at crossroads.

Keywords: ISCR; CR; Stand-By Arrangement; three-year Stand-By Arrangement; government; second-stage labor market reform; reform area; government program; executive board's discussion; envisaged labor market policy; Budget planning and preparation; Public sector; Europe; Global (search for similar items in EconPapers)
Pages: 135
Date: 2010-12-17
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