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- IMF/ECB/EC STATEMENT on third review mission to Greece
IMF/ECB/EC STATEMENT on third review mission to Greece
- Greece program has made further progress toward goals
- Needed fiscal, broader reforms being implemented
- Major reforms needed for economic recovery, fiscal sustainability
- Still expect economy to stabilize late in 2011
- Govt's full commitment to institutional change critical
- Tight liquidity, rising non-performing loans straining bank system
- Private banks have had some recent success raising capital
- Govt must progress on stability of state-controlled banks
- Mission for next program review planned for May 2011
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