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Two IMF Reports Not Positive for Greece

Board members of the International Monetary Fund on Tuesday received two reports on Greece that are not very positive about the country’s economy, a report says.
The reports will be discussed at a special board meeting the first week of February, according to the news website. The reports are not very good for the country, said a source with good knowledge of the situation, adding that there are some positive points.
The date the reports will be discussed is not set yet, but the website says that Athens has asked for a 15-day timeframe to prepare accordingly.
The first report is a review of the Greek economy, drafted by the head of the IMF mission to Greece Delia Velculescu in September on the basis of Article 4 of the Statute of the Fund. The discussion on the report has been delayed dramatically.
The second report is about the sustainability of the Greek debt, drafted by head of the Fund’s European department, Poul Thomsen. The report says that the debt is not sustainable and that further pension cuts must be made. It also suggests that the threshold of tax-free income must be lowered.

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