IMF Approves

IMF Approves

Form leaves from the package of joint rescue with the European Union. The aid from the organism to the European country ascends already to 17,400 million Euros. The IMF thinks that the Greek situation improvement " gradualmente". The International Monetary Fund (the IMF) approved east Friday the payment of 3,200 million Euros for Greece, and so the aid of the multilateral organism to the European country ascends already to 17,400 million Euros. The Bottom, that published its analysis of the Greek economy like part in the credit agreement with the country, indicated that the situation improves " gradualmente" and it foretold that Greece will return to the footpath of the growth in the first semester of the 2012. The credit agreement of three years with approved Greece the 9 of May of 2010 comprises of the package of joint rescue with the European Union for 110,000 million Euros. The new managing director of the IMF, Christine Lagarde, indicated in an official notice that the program of Greek adjustment is obtaining " results importantes" and it mentioned, in that sense, the reduction of the deficit and the gradual improvement of the competitiveness of the country.

It added, anyway, that are challenges " significativos" since it is necessary to still implement " important reforms estructurales". Exministra of Finances French, that assumed Tuesday the reins of the IMF, affirmed that a fiscal adjustment is necessary " duradero" , as well as accelerating the reforms that impel the productivity. It insisted on which the authorities have obtained " avances" in the fiscal area, with the approval of a medium term strategy that it defines the measures to reduce to the general deficit of the government below 3% of Producto Interior Bruto (PIB) for 2014. Even so, it noticed that strategy confronts " difciles" challenges. It mentioned, among them, those that described like " terms generosos" of the public use, the closing of inefficient public organizations and the fiscal evasion. Source of the news: The IMF approves the payment of 3,200 million of for Greece

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