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The IMF is Not Asking Greece for More Austerity

2019-03-26T14:09:51-04:00December 12, 2016|

By Maurice Obstfeld and Poul M. Thomsen

Versions in عربي (Arabic); Français (French); Deutsch (German); ελληνικά (Greek); and Español (Spanish)

Greece is once again in the headlines as discussions for the second review of its European Stability Mechanism (ESM) program are gaining pace. Unfortunately, the discussions have also spurred some misinformation about the role and the views of the IMF. Above all, the IMF is […]

Greece: Toward a Workable Program

2019-03-27T12:07:24-04:00February 11, 2016|

poul-thomsen1By Poul M. Thomsen

Versions in عربي (Arabic), EspañolFrançais, and ελληνικά (Greek)

Having successfully pulled Greece from the brink last summer and subsequently stabilized the economy, the government of Alexis Tsipras is now discussing with its European partners and the IMF a comprehensive multi-year program that can secure a lasting recovery and make debt sustainable. While discussions continue, […]

Greece: Past Critiques and the Path Forward

2019-03-27T15:38:46-04:00July 9, 2015|

IMG_0248By Olivier Blanchard

(Versions in DeutschEspañolFrançaisItalianoελληνικάРусский中文, 日本語عربي, and Português)

All eyes are on Greece, as the parties involved continue to strive for a lasting deal, spurring vigorous debate and some sharp criticisms, including of the IMF.

In this context, I thought some reflections on the main critiques could help clarify […]

Greece: A Credible Deal Will Require Difficult Decisions By All Sides

2019-03-27T16:02:04-04:00June 14, 2015|

blanchBy Olivier Blanchard

(Versions in 中文Françaisελληνικά, عربي, and Español)

The status of negotiations between Greece and its official creditors – the European Commission, the ECB and the IMF – dominated headlines last week.  At the core of the negotiations is a simple question: How much of an adjustment has to be made by Greece, how much […]

The Logic and Fairness of Greece’s Program

2017-04-15T14:10:56-04:00March 19, 2012|

The program deals squarely with the two most fundamental issues facing Greece―not only high debt but also low competitiveness. And it is fair, both in asking for shared sacrifices, not only within Greece, but also between Greece and its creditors.

IMF Welcomes New Eurozone Understanding on Greece

2017-04-15T14:13:00-04:00February 21, 2012|

“The combination of ambitious and broad policy efforts by Greece , and substantial and long-term financial contributions by the official and private sectors, will create the space needed to secure improvements in debt sustainability and competitiveness," Lagarde said in a statement. "These actions, together with a significant strengthening of the financial sector, will pave the way for a gradual resumption of economic growth."

James Roaf

2020-09-24T09:05:50-04:00September 22, 2020|

James Roaf is an Assistant Director in the Fiscal Affairs Department of the IMF. He has recently taken on the new role of Climate Change Policy Coordinator, overseeing a team of dedicated experts and a rapidly expanding work agenda on fiscal policies to address climate change. Previous IMF assignments have included mission chief for Russia and for Serbia, the policy […]

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