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Lagarde: IMF recognizes the sacrifices of the Greek people but insists on reforms

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The International Monetary Fund (IMF) recognizes the sacrifices of the Greek people, its Managing Director Christine Lagarde said on Wednesday, speaking at an event at the Atlantic Council in Washington.


Lagarde insisted however in the need for reforms in taxation and pensions which she described as “absolutely necessary”, according to the website of journalist Michalis Ignatiou (mignatiou.com).


“We recognized that some reforms have been made. But other reforms have not been completed yet and they must be implemented to free the economy’s potential. The reforms are absolutely necessary,” she said. “Greece must widen its tax base in income tax to allow a fairer distribution of tax burdens,” she said, noting that “very few people carry the burden of taxation today”.


Asked about the Greek government’s reaction to the IMF report published on Monday, Lagarde said the Fund wanted to be honest about the state of the Greek economy and the progress made. “Greek authorities didn’t like some of the things we said,” she added.

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