December 14, 2011 / 4:08 PM / 7 years ago

Greece lags behind targets in most areas: IMF

ATHENS (Reuters) - Greece is lagging behind EU/IMF targets, the International Monetary Fund’s mission chief said on Wednesday, adding that delay in reforms was the main reason why the economy was continuing to contract.

“Reforms are running behind schedule in most areas, this is the main reason in our view why the economy is continuing to trend down,” Poul Thomsen told a conference in Athens. “We need more structural reforms in the public sector to achieve deficit reduction.”

He added that the international bailout plan had overestimated the capacity of the Greek administration to reform and must be adjusted in a number of areas.

Reporting by Ingrid Melander and George Georgiopoulos

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