Greece: Third Review Under the Extended Arrangement Under the Extended Fund Facility—Staff Report; Staff Statement; Press Release; and Statement by the Executive Director for Greece

June 5, 2013

Preview Citation

Format: Chicago

Greece: Third Review Under the Extended Arrangement Under the Extended Fund Facility—Staff Report; Staff Statement; Press Release; and Statement by the Executive Director for Greece, (USA: International Monetary Fund, 2013) accessed November 21, 2024

Summary

The short-term objectives are being met, but medium-term targets and sustainability have to be worked on. The impressive fiscal adjustment evident since the crisis erupted is continuing. The Executive Directors commend the Greek government’s determination to focus on overdue spending cuts. However, progress on improving tax administration and public administration reforms needs to be started in earnest. There is concern about debt relief undermining the payment culture. Reforms to open up the economy to competition should be stepped up. The macroeconomic and debt outlook must remain under close review.

Subject: Banking, Budget planning and preparation, Expenditure, Financial institutions, Loans, Public financial management (PFM), Revenue administration, Structural reforms, Tax administration core functions

Keywords: Arrears data, Arrears datum, Budget planning and preparation, CR, Debt, Eastern Europe, EFF arrangement, Europe, Global, Governance framework, Government, ISCR, Loans, MEFP Annex III, State lottery, Tax administration core functions, Undue government interference

Publication Details

Pages:

201
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2013/153
Stock No:

1GRCEA2013002
ISBN:

9781484389287
ISSN:

1934-7685

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