The head of the IMF team in Greece Poul Tomsen is scheduled to update the Fund’s Executive Council on the evaluation of the Greek program. The Executive Council is expected to approve the 1.74 billion euro installment loan, which will become available on Wednesday.
According to the IMF report, Greece is showing an improvement in completing the fiscal adjustment and is on the right path towards achieving its fiscal goals for 2013. Furthermore, the macroeconomic outlook of the Greek economy confirms the estimations for a return to growth in 2014.
The IMF recognizes the efforts in tackling external imbalances and restoring competitiveness, through the extensive reforms in the job market that have increased wage flexibility.
The report will also refer to the Greek authorities’ commitment to taking further measures to ensure the effective implementation of the reforms in public administration, such the mobility scheme in the public sector and other milestones and goals.
