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Insurance provides peace of mind
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Terms and Conditions (small print) are clear and easily accessible
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Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
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Latest News

IMF cuts Greece forecast but sees bondholder deal

The International Monetary Fund (IMF) said on Tuesday it anticipates a deeper recession for Greece through 2012, but expressed optimism for a deal with private bondholders to help make the country's debt more sustainable.

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December 14, 2011 11:02 by



In a staff report issued in connection with last week’s release of a 2.2 billion-euro ($3 billion) aid tranche, the IMF said it revised gross domestic product projections downward due to less favorable external demand, a contraction in bank credit and slow progress on reforms to improve the investment climate.

The Fund said that a growth inflection point expected in late 2011 has not materialized, so Greece’s 2011 GDP will contract 6 percent for 2011 from a previous forecast for a 5.5 per cent decline. For 2012, it revised GDP growth to a 3 percent contraction from a 2.75 percent decline. (Reporting by David Lawder; Editing by Andrea Ricci)



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