The International Monetary Fund welcomes the latest agreement signed by the Eurogroup this morning on the financial support program in Athens, believing it will allow Greece to reduce the very heavy public debt burden. This was stated in a note by the general manager Christine Lagarde.
“The decision of the Eurogroup to support the buyback operation of Greece and the willingness to make new funds available if necessary, provided that Athens reaches a balanced primary balance next year, are measures that will allow the debt to fall to 124% of GDP by 2020 and well below 110% by 2022”.
“I therefore intend to recommend to the IMF executive board that they complete the first program review process; I expect a board meeting to be held in January” concludes the note.
