Greece
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International Monetary Fund

IMF Chief Calls for Greek Debt Relief and More Reforms

International Monetary Fund (IMF) Chief Christine Lagarde said on Thursday that Greek debt is not viable. She said that while Greece has proceeded to implement some reforms, more work is still needed to be done. She confirmed fears that...

IMF Predicts Primary Surplus Will Be Lower Than Expectations of Greece and EC

The International Monetary Fund forecasts a much lower primary surplus for 2017 than the predictions made by the Greek Finance Ministry and the European Commission. In its report, it also called for new measures to achieve these goals. According to its...

German Press Reports Defend Greece Following IMF Report

The German press is filled with extensive commentary concerning the International Monetary Fund's (IMF) report on Greece that was released on Friday. The report recommends a reduction in pensions while reiterating the IMF's position on relief needed to ensure...

IMF Report: Pension Reductions, Tax and Labor Changes Needed

The International Monetary Fund (IMF) Greek Head Delia Velculescu held a conference call with reporters on Friday. She stated that Greece’s growth outlook remains weak, and pointed to further deep reforms necessary. She also said that debt relief from...

IMF Rep Velculescu: Greek Reforms are Toxically One-Sided in Class Structure

International Monetary Fund Representative Delia Velculescu met with the leadership of the General Confederation of Greek Workers (GSEE) at the Bank of Greece (BoG) building. The meeting, called by Velculescu ran for one and a half hours and took place...

Fitch: Greece's Second Bailout Program Review Might Take Until 2nd Quarter of 2017

Negotiations for the second evaluation of Greece's bailout program may continue until the second quarter of 2017, Fitch estimates. In its report on the Greek economy, the U.S. rating agency notes that the Greek government does not take full ownership...

Lagarde: IMF Not Ready to Participate in Greek Bailout

International Monetary Fund Chief Christine Lagarde told Reuters that the IMF will downgrade its 2016 global growth forecast as economic prospects worsen. The IMF's World Economic Outlook is due in early October and is expected to signal the sixth...

Greek Government 'Surprised' by EC Intervention on Supreme Court's ELSTAT Probe

The European Commission wants the Greek government to take an official stand on press reports that the Hellenic Statistical Authority (ELSTAT) had rigged data to aid Greece's foreign creditors. EU Social Affairs Commissioner Marianne Thyssen, who overseas Eurostat, said...

IMF Study: Greece's Aging Workforce May Reduce Productivity

An IMF study places Greece in a high-risk category concerning the aging population over the next twenty years. At current rates, the age demographics will not assist efforts to reduce unemployment and increase competitiveness in an environment burdened with...

Scathing Report: IMF Watchdog Criticizes the Fund's Poor Handling of Greek Crisis

The International Monetary Fund's Independent Evaluation Office presented a scathing report on Thursday on the IMF’s handling of European bailouts. The findings show that it bent the rules and bowed to political pressure in the ill-fated Greek rescue in...