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The short-term objectives are being met, but medium-term targets and sustainability have to be worked on. The impressive fiscal adjustment evident since the crisis erupted is continuing. The Executive Directors commend the Greek government’s determination to focus on overdue spending cuts....
Persistent link: https://www.econbiz.de/10014395151
Fiscal expansion after euro accession led to a buildup of large economic imbalances, and a program to make fiscal policy and the fiscal and debt position sustainable was initiated. However, the program saw opposition from the outset and structural reforms stalled, which unsettled the investment...
Persistent link: https://www.econbiz.de/10014395152
Greece adopted an ambitious program to eliminate fiscal and current account imbalances, regain competitiveness …
Persistent link: https://www.econbiz.de/10014395153
Persistent link: https://www.econbiz.de/10011567392
Persistent link: https://www.econbiz.de/10011612065
The Greek unemployment rate rose from 2 percent in the 1960s to 9-10 percent in the 1990s. This reflected the increase in female participation rates, the slowdown in growth, the restructuring of production, and the increased mismatch between jobs and job seekers. But the most crucial factor was...
Persistent link: https://www.econbiz.de/10014396135
This paper presents the staff report for Greece’s request for an Extended Arrangement under the Extended Fund Facility …
Persistent link: https://www.econbiz.de/10014396910
of fiscal adjustment, the public sector’s creditworthiness as judged by foreign lenders, and the banking system in Greece …. The paper highlights that fiscal adjustment in Greece has followed a gradual path, relying to a significant extent on …
Persistent link: https://www.econbiz.de/10014398089
This Selected Issues paper explores the determinants of Greece’s potential output, an exercise that could shed light on …
Persistent link: https://www.econbiz.de/10014398214
Greece’s deep recession has continued unabated, with the economy struggling to gain traction against domestic political … progress with structural reforms. The structural transformation of Greece’s economy continues to proceed at a slow pace, and … this is making Greece’s adjustment more costly. Institutional reforms continued to disappoint during 2012, again …
Persistent link: https://www.econbiz.de/10014395412