Greece: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Greece

June 21, 2022

Preview Citation

Format: Chicago

Greece: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Greece, (USA: International Monetary Fund, 2022) accessed November 21, 2024

Summary

Greece has weathered the pandemic well, with a considerably stronger-than-expected recovery. Reforms progressed in several areas, including digitalization, privatization, improving the fiscal policy mix, and bank balance sheet repair. Greece finalized its early repayment to the IMF on April 4 and is expected to graduate from the quarterly European Institutions’ Enhanced Surveillance framework on schedule by August 2022. Despite the adverse impact of the war in Ukraine, growth is projected to remain robust at 3.5 percent this year. High energy prices are expected to push up average inflation to 6.1 percent. Public debt is on a downward trajectory and rollover risks appear manageable. The external position last year was moderately weaker than that consistent with fundamentals and desirable policies.

Subject: Financial institutions, Fiscal policy, International organization, Loans, Monetary policy, Nonperforming loans, Public debt, Revenue administration, Tax administration core functions

Keywords: Global, Goods trade balance statistics, IMF staff calculation, IMF's transparency policy, Liability positions vis-à-vis nonresident, Loans, Money market rate, Nonperforming loans, Policy discussion, Tax administration core functions

Publication Details

Pages:

82
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2022/173
Stock No:

1GRCEA2022001
ISBN:

9798400212772
ISSN:

1934-7685

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