IMF report that warned of Greek debt in 2009 (see documents)

Author: newsroom  | Published: January 4, 2015

Most Greeks were oblivious to the austerity that was to come in the summer of 2009, but the IMF had already warned the Greek governent

A report by the International Monetary Fund (IMF) in the dated August, 2009, shows that the economic crisis that struck Greece just a few months later was something that the IMF had foreseen according to Greek Lignite blogspot.

The report foresaw the financial derailment of the conservative New Democracy government of Kostas Karamanlis and possible bankruptcy that would follow.

Page 23 of the report states that “Greece needs a coherent sustained fiscal adjustment plan based on permanent measures that can be monitored closely to cement credibility.”

IMF IMF1 IMF3

Debt following the Memorandum policies and austerity measures from 2009 onwards:

DEBT