EU/IMF rap Greece on asset sales, praise on budget
Greece’s progress on privatizing state assets is unsatisfactory but the country’s overall debt outlook remains unchanged as it steps up budget cuts, the country’s lenders said in a draft report obtained by Reuters on Monday.
The report by the European Union and International Monetary Fund assessing the country’s progress in meeting its bailout goals said the target for revenues from privatizations had been cut to 2 billion euros ($2.59 billion) this year from 2.6 billion euros.
It also predicted Greece would take several years to fully return to capital markets once funding from the bailout program ends in 2014. Athens has said it hoped to return to the bond market at the end of next year. [Reuters]
