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.
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