Greece Faces Hard Truths on Its External Imbalances - Recovery Plan No Silver Bullet, Says IMF
Despite substantial EU-backed investment under Greece's National Recovery and Resilience Plan, deep external imbalances continue to challenge the country's economic stability, warns a new IMF report. Greece remains burdened by deep and persistent external imbalances, despite the optimism once surrounding its National Recovery and Resilience Plan (RRP), funded through the European Union's Recovery and Resilience Facility. A new report from the International Monetary Fund paints a sobering picture: while the plan provides a critical opportunity to stabilize the country's external position, its success is far from assured. Titled "No Quick Fix: The Recovery and Resilience Plan and External Position in Greece", the IMF report warns that even with substantial investment and reform-amounting to roughly €36 billion, or 16% of Greek GDP-lasting improvements will depend heavily on the country's ability to sustain disciplined and prudent...
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