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.
