IMF Survey: IMF Support for Greece Moves Ahead with €3.24 Billion Disbursement

IMF Survey online

January 18, 2013

• The Greek program ran considerably off track during 2012, but is now back on course
• Overall, Greece is making considerable progress with its adjustment program
• Sustained and strong implementation is now needed to lay the foundation for a turnaround

The implementation of policies agreed under Greece’s IMF-supported program ran considerably off track during 2012.

An extended election period effectively put on hold macro-structural reforms, privatization, and fiscal reforms. The delays had important repercussions on the economy, which was already expected to be weak. As a result, program projections undershot due to weaker confidence and tight liquidity conditions.

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