IMF Programs a 'Failure' in Greece, Ukraine, says Fund Director

20/6/2015

The IMF executive director acknowledged its "mixed record" in Europe and developing countries, and failure in Greece and Ukraine. International Monetary Fund executive director Paulo Nogueira Batista admitted that the institution has had “mixed” results with its policies in both Europe and developing countries and that programs in Greece and Ukraine in particular have been a “failure,” he said in an interview with RT on Friday. Batista pointed to Ireland and Portugal as “success stories” in the Eurozone for being able to pay off their debts on time and mitigate a crisis. Ukraine and Greece, on the other hand, have struggled through “unsuccessful programs,” creating what Batista referred to as “very difficult” cases that could be described as “failure.” “I think the Greeks are suffering a lot from a lot of misguided decisions that were taken, not only by the IMF but by previous Greek governments, by European authorities that led Greece into a serious impasse out of which it has not been able to emerge yet,” said Batista to RT.

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