The letter is a response to the IMF’s report published on Monday which proposed, among other measures, broadening the personal income tax base and rationalizing pension spending and reducing non-performing loans (NPLs).

Yiannis Stournaras believes a timely adjustment of Greece’s debt is necessary, and in a statement today advocated lowering the target for a primary surplus of 2% in order to reduce the tax burden, explaining that doing so would enhance Greece’s growth prospects and facilitate its entrance into the financial markets.

Economic adjustment and structural improvements over the past six years have rendered Greece more business-friendly and have opened up significant investment opportunities, in particular for those who will position themselves early in the Greek economy, Bank of Greece governor Yannis Stournaras said on Thursday.