The IMF on Greece

  • Further fiscal consolidation would hurt growth
  • Needs to accelerate fiscal reports
  • Capital controls should be relaxed rapidly
  • Greece should cut pensions
  • Outlook stays weak with high downside risks
  • Target of 3.5%/GDP primary surplus is unrealistic
  • Greece needs debt relief 'well beyond' what's been considered

IMF recently completed an Article IV mission to Greece.