Greece: Fifth Review Under the Extended Arrangement Under the Extended Fund Facility, and Request for Waiver of Nonobservance of Performance Criterion and Rephasing of Access; Staff Report; Press Release; and Statement by the Executive Director for Greece

 
 
Publication Date: June 10, 2014
 
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Summary: This paper discusses Greece’s Fifth Review Under the Extended Arrangement Under the Extended Fund Facility (EFF), and Request for Waiver of Nonobservance of Performance Criterion and Rephasing of Access. Greece has gone from having the weakest to the strongest cyclically adjusted fiscal position within the euro area in just four years. But more fiscal adjustment is needed to restore debt sustainability. Structural reforms are progressing, although unevenly. The redoubling of efforts to liberalize products and service markets are much welcomed. On the basis of reforms undertaken in the context of this review, and the government’s policy commitments going forward, the IMF staff supports the completion of the fifth review.
 
Series: Country Report No. 14/151
Subject(s): Extended Fund Facility | Fiscal reforms | Banking sector | Bank supervision | Economic indicators | Debt sustainability analysis | Letters of Intent | Extended arrangement reviews | Staff Reports | Press releases | Performance criteria waivers | Greece

 
English
Publication Date: June 10, 2014
ISBN/ISSN: 9781498338196/1934-7685 Format: Paper
Stock No: 1GRCEA2014001 Pages: 226
Price:
US$18.00 (Academic Rate:
US$18.00 )
 
 
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