Greece is now 'among the top performers in the euro zone,' the IMF says.
Greece, the euro zone economy that suffered the most during the sovereign debt crisis and a country with the highest debt and unemployment, is now"among the top performers in the euro zone," according to the International Monetary Fund .
"The government is meeting its ambitious fiscal targets agreed with European member states, though not without some cost to growth. Market access has been re-established with two successful government bond issuances this year." Greece currently owes the IMF 9.4 billion euros following its role in the country's three bailouts since 2010. Collectively, the bailouts were worth 289 billion euros and were funded and overseen by the EU and, to a lesser extent, the IMF.
A meeting of the Eurogroup on Monday praised Greece for making progress on reforms but said it needed to do more, delaying a decision on debt relief measures worth almost a billion euros until its next meeting in April. "Despite its hard-earned economic stability, Greece remains a country confronted by elevated vulnerabilities and weak payment discipline. This is reflected, for example, in the very high nonperforming loan ratios in the banks and elevated levels of private- and public-sector debt and arrears," the IMF warned.
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