IMF Mission Chief to Present Annual Report on Greek Economy

11:48 29/1/2025 - Πηγή: Dikaiologitika

The head of the International Monetary Fund (IMF) mission for Greece, South Korean economist Joong Shik Kang, is set to present the Fund’s annual assessment of the Greek economy, known as the Article IV Report, on Thursday at Greece's Ministry of Finance.

Joong

Shik Kang, a graduate in Economics from Seoul National University with a Ph.D. in Economics from the University of Wisconsin-Madison in the United States, has overseen IMF operations in Greece for several years.

Last year’s Article IV Report highlighted that Greece’s economic outlook had significantly improved, but substantial challenges persisted. According to the report, the Greek economy had returned to income convergence, ending a decade of stagnation marked by high unemployment and low investment amid large-scale deleveraging.

However, the report also noted ongoing macro-financial pressures, including tighter monetary policies, persistent core inflation, and rising real estate prices. Structural weaknesses, such as low household savings, a still-low investment base, and growing climate change risks, were identified as constraints on medium-term growth prospects.

On Thursday, Joong Shik Kang will provide an update on whether the situation has improved or worsened since the previous report, shedding light on Greece's current economic trajectory and its future challenges.

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