It is part of the joint EU rescue package. The help of the Agency to the European country stands at 17,400 million euros. The IMF believes that the Greek situation is improving gradually. The International Monetary Fund (IMF) approved Friday the disbursement of 3.2 billion euros for Greece, with which the help of the multilateral agency European country stands at 17,400 million euros. The Fund, which published its analysis of the Greek economy as part of the credit agreement with the country, indicated that the situation is improving gradually and predicted that Greece will return to the path of growth in the first half of 2012. Credit agreement for three years with Greece approved on May 9, 2010 is part of the joint with the EU rescue package worth 110 billion euros. The new Managing Director of the IMF, Christine Lagarde, said in a statement that the Greek adjustment program is getting significant results and mentioned, in that sense, reducing the deficit and the gradual improvement of the competitiveness of the country. He added, however, that there are significant challenges since it is necessary to implement still important structural reforms.
The exministra of finance French, who on Tuesday took the reins of the IMF, said that it is necessary a durable fiscal adjustment, as well as accelerate reforms that boost productivity. He stressed that the authorities have made progress in the fiscal area, with the adoption of a strategy in the medium term that defines the measures to reduce the general government deficit below 3% of gross domestic product (GDP) by 2014. Even so, he warned that that strategy faces difficult challenges. Between them, which he described as generous public employment terms, cited the closure of inefficient public entities and tax evasion. Source of the news: the IMF approves the disbursement of 3.2 billion of for Greece