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July 17, 2019

IMF sees Greek economy accelerating in 2019

The International Monetary Fund is optimistic on Greece’s growth and employment prospects for this year, but is urging the government to stick to reforms to maintain the momentum.

In a report published Friday following five-day talks with officials in Athens, IMF officials say that the battered Greek economy is set to grow 2.4 percent this year, up from 2.1 percent in 2018.

The report also argues that the heavily indebted country’s medium-term ability to repay its creditors — mostly its European partners and the IMF — remains “robust.”

It adds, however, that the country remains vulnerable to a potential slowdown in the global economy and must press ahead with reforms, particularly to make the labor market more flexible.

Greece exited its eight-year bailout program in August. [AP]

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