Greece among best performers in eurozone: IMF

Greece has entered a period of economic growth that puts it "among the best performers in the eurozone," reports BBC.

That rather striking judgement comes from the International Monetary Fund in a new report on the Greek economy.

A senior IMF official said there were a lot of positive developments to point to.

That said, the IMF said the economy remains vulnerable, further reforms are needed and unemployment remains unacceptably high.

Greece was where the eurozone financial crisis started back in 2009, and it was the economy hardest hit.

It is also the economy that has received most by way of bailout loans, some from the IMF.

But most of the money came from the eurozone to total more than a quarter of a trillion euros.

Those loans came with conditions. Greece had to take action to reduce the government's unsustainable borrowing needs, and to reform the economy to support growth.

There were changes to labour regulation, more competition in the business world and privatisation among many other elements.

Both strands encountered resistance in Greece, and the bailout terms led to political crises.

But the IMF and the European Union both say the country has made progress.

Growth resumed in 2013, but it was erratic at first.