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Tuesday, June 7, 2011

Greece has made progress but no time to relax- IMF

Greece has made progress in tackling its debt crisis but cannot afford to relax the pace of reforms, the International Monetary Fund's (IMF) senior representative in Greece told a banking conference on Tuesday. "Greece is at a critical juncture and has no time to waste, now is not the time to slow down," IMF representative Bob Traa said. "Without further reforms the economy will rebalance through lower incomes."