Greece, which has been struggling for years with high debts and painful rates of unemployment, is making progress toward reducing its massive budget problems and restoring economic growth, the International Monetary Fund said Monday. But the IMF said the country's debts remain "unsustainable" over the long term. The IMF predicts Greece's economy will reach long-run growth of just under 1 percent a year, unimpressive but an improvement on years when the economy was shrinking. The country's debt is unsustainable at around 180 percent of gross domestic product, the broadest measure of economic output, the IMF said. Most IMF directors say the country will probably need debt relief to pay its bills over the long term.

Source: ABC News February 07, 2017 02:26 UTC