IMF Warns Greece
- Written by Maria Athens
Today, the International Monetary Fund stressed that Greece is required to increase its public sector effectiveness in order to make fiscal goals and not require new austerity protocols.
The organization warned that reform weakness was predominant within the ruling administration. In the IMF's latest review of the nation, it stated, "Adjustment fatigue has set in and the coalition government has a reduced majority of just two seats in the 300-member parliament", according to Kathimerini.
The international monetary agency added, "This is making it difficult to move forward boldly and swiftly with needed reforms...With debt projected to exceed the targeted path, it is ... essential that Greece's European partners reaffirm their commitments to the agreed debt strategy by standing ready to provide the additional relief needed to keep debt on this path".
The IMF claimed that Greece will experience a 12.6 billion euro funding problem after May 2015, if it doesn't gain additional financial gains or more bond issues. It also predicted that the nation will not meet its 2015 budget surplus goal by an approximated 2 billion euros; amounting to about 1% of its GDP.
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