Astute observation:

Riley Says Greek IMF Growth Program Doesn’t Seem to Be Working

Jan. 10 (Bloomberg) — David Riley, head of sovereign ratings at Fitch Ratings, said the International Monetary Fund’s program for Greece may not be working.

“The IMF program at the moment doesn’t seem to be working,” he said at a conference in London today. “The economy is contracting” while the point of the program was to promote growth.