The IMF has welcomed the agreement by Eurozone finance minister on a new support package for Greece.
After talks that went on until the early hours of the morning in Brussels, IMF Managing Director Christine Lagarde said on February 21 she welcomed the “proposed understandings reached today by the Euro Group to support Greece.”
“The combination of ambitious and broad policy efforts by Greece , and substantial and long-term financial contributions by the official and private sectors, will create the space needed to secure improvements in debt sustainability and competitiveness,” she said in a statement. “These actions, together with a significant strengthening of the financial sector, will pave the way for a gradual resumption of economic growth.”
Filed under: Advanced Economies, Economic Crisis, Europe, Finance, Financial Crisis, growth, IMF, Inequality, International Monetary Fund, recession | Tagged: Christine Lagarde, EFSF, ESM, euro, Euro Group, European Financial Stability Facility, European Stability Mechanism, European Union, Greece, haircut | 8 Comments »