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IMF Stance on Pension Reform Irks Greek Finance Minister

tsakalotosIn a press conference, Greek Finance Minister Euclid Tsakalotos expressed his displeasure with the IMF’s stance on the Greek government’s plan for pension reform.
Tsakalotos stressed repeatedly that leaks to the press about the IMF’s alleged rejection of the pension reform plan the Greek government has submitted to its international creditors is counterproductive as they undermine investor confidence, thereby blocking the economic recovery.
In the same context, the Greek Finance Minister insisted that his government has not received “a formal response” from the Fund regarding pension reform. But he did say that additional interventions must be made in the area of public finance besides those on the country’s pension and tax system.
Tsakalotos also expressed his concern over the IMF’s approach to the issues that need to be resolved so the bailout program can be executed in a timely manner, saying “we fear that the Fund does not share Greece’s concerns regarding time.” However, he did admit that the IMF maintains a hard line both over pension reform and the conditions for debt restructuring.

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