Sunday, April 19, 2015

IMF chief encourages Greece to bring reforms to ‘fruition’

Financial Times
April 19, 2015

Greece’s populist government must set aside politics and bring promised reforms to “fruition” to save its economy and avoid default, the head of the International Monetary Fund has warned ahead of a crucial few weeks of negotiations.

In an interview with the Financial Times, Christine Lagarde said she told Yanis Varoufakis, the Greek finance minister, during a meeting of the IMF/World Bank spring meetings in Washington last week that he needed to accelerate reforms. She warned that patience was running out with the new Syriza government in Athens and that any honeymoon it may have had with its creditors was rapidly coming to a close.

“There has been a huge commitment by the international community, the European partners but also the IMF and the European Central Bank to actually support the Greek economy,” she said.

“What needs to happen now is that the political views need to actually deliver the measures, the tools, the reforms that could actually reach the objectives that have been set between the international community and Greece: restore stability, improve the economy [and] make sure that one of these days Greece re-accesses the financial markets on its own and without support.”


No comments: