IMF: Greece Making 'Progress' on Economy

From the bottom of a hole, everything is an improvement

Debt-laden Greece has made progress in improving its finances, but the country must do more to fight tax evasion, the International Monetary Fund has said.

In a report, the IMF said Greece had made "exceptional" progress on reducing its budget deficit since 2010.

But the IMF, one of the lenders that backed a bailout of Greece, said the "notorious" problem of tax evasion was still a major issue.

Also, Athens was still too slow to cut public sector jobs, the IMF said.

Cutting the budget deficit and making its economy more competitive were key conditions of the 240bn-euro (£202bn) bailout from the European Union and the IMF.