Arab Today, arab today greece welcomes imf report on bailout mistakes
Last Updated : GMT 10:31:12
Arab Today, arab today
Arab Today, arab today

Greece welcomes IMF report on bailout mistakes

Arab Today, arab today

Arab Today, arab today Greece welcomes IMF report on bailout mistakes

Athens - SPA

Greece on Thursday welcomed an acknowledgement by the International Monetary Fund (IMF) that the lender was responsible for \"notable failures\" in the country\'s bailout, underestimating how much austerity would push the economy deeper into recession, dpa reported. \"We welcome the report, which is objective,\" Finance Minister Giannis Stournaras was quoted as saying in the daily Kathimerini newspaper. The report \"will allow the chance to recognise the errors which have been made so that they are not repeated.\" An internal review of the Greek bailout programme by the IMF found that the organisation had made serious errors during the last three years. The IMF admitted that it had underestimated the recessionary impact of the fiscal policies Greece was asked to implement as part of the bailouts, the first of which was agreed in May 2010. \"The fiscal targets became even more ambitious once the downturn exceeded expectations,\" the report said, adding that it could not have slowed the pace of belt-tightening reforms. Athens has so far received about 200 billion euros (262 billion dollars) in loans from a rescue programme totaling 240 billion euros. Repeated austerity measures, which include harsh salary and pension cuts as well as tax hikes have helped reduce the country\'s budget deficit but at the same time left it deeper in recession than what the IMF and its European partners had initially forecast. Unemployment has surged to more than 27 per cen

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today greece welcomes imf report on bailout mistakes Arab Today, arab today greece welcomes imf report on bailout mistakes

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today greece welcomes imf report on bailout mistakes Arab Today, arab today greece welcomes imf report on bailout mistakes

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday