Velculescu: “Greece needs a significant reduction of its public debt”
The IMF Mission Chief to Greece Delia Velculescu commented that additional reforms in the country’s pension system are…
The IMF Mission Chief to Greece Delia Velculescu commented that additional reforms in the country’s pension system are required in order for a primary surplus to be achieved, during a speech she delivered at an investment conference in New York.
According to a Bloomberg report, Mrs. Velculescu underlined the IMF’s longstanding position, namely that a significant reduction of Greece’s public debt is necessary, since the initiatives so far have not managed to restore debt sustainability.
Furthermore, Mrs. Velculescu stressed that Greece’s weak fiscal position is a challenge for economic policy, while emphasizing the need for reforms to improve competition and facilitate new businesses from entering the market.