IMF stands by position that pending social security cuts in Greece necessary
The IMF reiterated on Thursday that a scheduled social security spending reduction in Greece, set for January 2019, will improve the country’s prospects and send a “strong message” to investors.
IMF spokesman Gerry Rice reminded reporters at a regular press briefing that the measure is not new, having been agreed to between creditors and the leftist-rightist coalition government in Athens in 2017.
In echoing the Fund’s standing position on the matter, Rice said the spending reduction will push the country towards a more growth-friendly and socially just policy, boost growth, while creating fiscal space for a further cut in taxes and welfare spending.
You may be interested
Greek islands and Halkidiki in top low-cost “5-star” destinationsPanos - Apr 24, 2019
The Greek islands and Halkidiki are among the top 8 “five-star” budget-friendly holiday destinations in the world for this summer,…
Teen sues Apple for $1bn accusing AI of leading to his false arrestPanos - Apr 24, 2019
A student is suing Apple Inc for $1bn, claiming that its in-store AI led to his mistaken arrest. Ousmane Bah,…