Greece on track with program but IMF too pessimistic, Dombrovskis says


Greece is on track with the economic adjustment needed to secure the next tranche of its bailout but the International Monetary Fund is failing raise its overly pessimistic forecasts, the vice president of the European Commission said on Monday.

"The program itself is on track," Valdis Dombrovskis said at an event in Frankfurt.

"If we do a final push from all sides – from institutions, creditors, eurozone countries and Greece itself – we can actually conclude the second review."

He added: "Our basic assumption is that it will be done in close co-operation with the IMF."

"The problem is that the IMF is coming with very pessimistic growth and fiscal forecasts as regards Greece. Moreover it is not correcting those forecasts based on facts, based on the actual outcomes." [Reuters]