IMF official expresses satisfaction over progress of economic program

Poul Thomsen, an International Monetary Fund high-ranking official, on Wednesday urged Greece to continue implementing economic reforms and expressed his satisfaction over the performance so far of a Greek economic program.
Speaking to reporters in a teleconference, Thomsen referred to the need to speed-up “structural reforms”, while he stressed that the Greek program was progressing satisfactory and that Greek economic competitiveness was “gradually improving”.

The IMF’s official noted that economic recession in Greece was deeper than originally estimated because of a large decline in domestic demand, although he added that the size of the deviation was small compared with the wider size of economic adjustment.

Thomsen reiterated some points included in an IMF report on Greece, underlining the encouraging signs of an increase in Greek exports and the fact that inflation was below the Eurozone average rate, excluding the added burden of new taxes. He noted that challenges still remained and stressed that Greece must proceed with necessary reforms for the economy to return to a sustainable road.

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