Greece: OECD’s Gurría welcomes successful debt reduction outcome

 

09/03/2012 - OECD Secretary-General Angel Gurría congratulates the Greek authorities for the successful outcome of the voluntary Greek debt exchange programme.

This achievement allows Greece to reduce its debt by over €100 billion, so that the country can benefit from the €130 billion financial support programme agreed with the European Union, the European Central Bank and the International Monetary Fund.

The success of the debt exchange programme removes a source of uncertainty and will allow Greece to focus on efforts to restore competitiveness, boost growth and ensure debt sustainability. Progress in reform implementation will help boost confidence and trigger a virtuous circle for growth. 

The OECD stands ready to continue to support the Greek authorities in their ambitious economic agenda.

For further information, journalists should contact the OECD’s Media Division on + 33 1 45 24 97 00 or via e-mail news.contact@oecd.org.

For more information about OECD work on Greece, please visit: www.oecd.org/greece