Financial Times
February 11, 2011
Greece plans to raise €50bn from privatisation sales over the next four years in a bid to slash its public debt and avert a sovereign default.
The revamped privatisation plan was announced on Friday by visiting European Union and International Monetary Fund officials, who urged the government to step up the pace of structural reform.
“The programme is at a critical juncture . . . It is broadly on track but it will not remain on track without a significant acceleration of reforms,” said Poul Thomsen, IMF deputy director for Europe, at the end of a week-long monitoring mission.
Proceeds from the privatisation drive, if it proves successful, would enable Greece to reduce its debt by more than 15 percentage points of gross domestic product.
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