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No room for delays in Greek economic program-IMF
March 15, 2012 / 7:11 PM / in 6 years

No room for delays in Greek economic program-IMF

WASHINGTON, March 15 (Reuters) - There was no room for slippage in Greece’s economic rescue package and failure to implement agreed policies could trigger an “unsustainable debt dynamic,” a senior International Monetary Fund official said on Thursday.

The biggest risk to implementation of Greece’s new IMF-EU program is that Athens delays needed economic reforms to address large competitiveness gaps, Poul Thomsen, the IMF mission chief to Greece, told a conference call with reporters.

“To get the recovery going, we need to get a strong impulse from productivity-boosting reforms and failure to launch such reforms could indeed mean ... that the (Greek) economy will continue to trend down,” he added.

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