x

Economy

Greek FinMin Addresses IMF/World Bank Annual Meetings

October 13, 2020

ATHENS — The important challenges that global economies have to face during the transition from the period of emergency measures to support households and businesses due to the health crisis, to the period of strengthening economic recovery, was the highlight of Greek Finance Minister Christos Staikouras's speech during Monday’s closed online session, in the framework of the annual meeting of the International Monetary Fund and the World Bank.

During the discussion on fiscal policy in the developed economies of Europe, the Greek FinMin had the opportunity to exchange views with Director General of the International Monetary Fund Kristalina Georgieva, President of the European Central Bank Christine Lagarde, and other officials.

Staikouras stressed that, in order to deal with the economic consequences of the coronavirus pandemic, the Greek government has taken "smart" measures to support the income of citizens and the liquidity of companies, recovery oriented, which also have positive effects on medium-term economic development. In addition, he stressed the importance of utilizing the Next Generation EU program for recovery, mainly through the appropriate and effective use of grants from the Recovery and Resilience Mechanism (RRF). "It is crucial to achieve optimal planning and rapid implementation of national recovery plans," the finance minister said.

At the same time, Staikouras made extensive reference to the need to successfully address poverty and inequality, through interventions such as:

– the reduction of the tax burden on labor

– additional measures to increase employment and workforce, in particular for lower-income social groups, such as women, migrants and young people

– the implementation of significant reforms, which will improve the quality of education provided and contribute to bridging the "digital gap"

– an effective social policy, which will not only ensure that the social protection "net" is as strong and broad as required, but also that it prevents "poverty traps" that perpetuate the unequal distribution of income.

RELATED

ATHENS - Greek public debt totaled 357,295 billion euros at the end of the third quarter of 2021, from 337,666 billion in the corresponding period in 2020, Hellenic Statistical Authority said on Friday.

Top Stories

Church

BOSTON – The Holy Synod of the Patriarchate of Alexandria in its recent meeting dealt with the ecclesiastical coup perpetrated by the Patriarchate of Moscow in its canonical jurisdiction, calling it an “immoral invasion and intrusion.

Church

NEW YORK - Some 21 years after it was destroyed in the September 11, 2001 terrorist attacks in the United States that brought down the Twin Towers in New York City, the new St Nicholas Greek Orthodox Church rising in its place is among the most eagerly awaited architectural openings of 2022.

Events

STATEN ISLAND, NY – For yet another year, the community of Holy Trinity-St Nicholas in Staten Island honored couples celebrating 50+ years of marriage with a modest ceremony held at the church immediately following the Divine Liturgy on January 16.

Video

1 NYPD Officer Killed, 1 Severely Injured in Harlem Shooting (Vid)

NEW YORK (AP) — A New York City police officer was killed and another critically wounded Friday night while answering a call about an argument between a woman and her adult son, officials said, making four officers shot in the city in as many days.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.