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IMF: Delays of reforms stall economic recovery

12-15-2011 16:00 BJT

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The International Monetary Fund stepped-up pressure on Greece on Wednesday, saying promised reforms are running behind schedule in most areas. The IMF also added that delays are stalling recovery to an economy now in its fourth year of recession.

Poul Thomsen, deputy director of the IMF's European department said Athens could not rely on more tax increases and blunt across-the-board spending cuts, but needed to look at "taboos" that could include laying off more state workers.

He said Greece needs to consider more aggressively closing down redundant state enterprises and entities.

Officials from the "troika" of lenders made up of the IMF, European Union and European Central Bank have been in Athens since Monday, working on a new 130-billion euro bailout that Greece needs in order to stave off bankruptcy next year.



Editor:Liu Fang |Source: CNTV.CN

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