Recovery: Greece on path to recovery-EU, IMF

ATHENS: Greece on Friday received a vote of confidence from international creditors over progress in overhauling its stricken economy, and a fresh injection of cash from the International Monetary Fund (IMF).

The IMF announced it had released €1.74 billion in fresh funds after Greece passed a third performance review. IMF chief Christine Lagarde praised Greek efforts to meet their commitments.

“The Greek authorities have made commendable progress in reducing fiscal and external imbalances and in restoring competitiveness,” she said in a statement. “Greece is well under way to complete its ambitious fiscal adjustment plan, and is on track to meet its 2013 fiscal targets,” she added. The funding is part of the €173 billion, four-year programme to put Athens’s finances on a stable path.

The IMF so far has released €6.57 billion to Greece under the programme.

Published in The Express Tribune, June 2^nd, 2013.

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