Author (Corporate) | International Monetary Fund |
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Publisher | International Monetary Fund |
Series Title | Country Report |
Series Details | No.40, 2017 (07.02.17) |
Publication Date | 2017 |
Content Type | Journal | Series | Blog, Report, Statistics |
IMF: Country Report, No.41, 2017 (07.02.17): Greece : Selected Issues (related hyperlink above) Looks at the following issues: Notwithstanding the substantial progress achieved by Greece, it still faced fundamental challenges: (i) a vulnerable structure of the public finances; Moreover, its public debt remained highly unsustainable, despite generous official relief already provided by its European partners. Addressing these remaining challenges and restoring debt sustainability were essential to creating a vibrant and dynamic private sector capable of generating sustainable and equitable growth and employment. Greece's Finance Minister Euclid Tsakalotos said that the IMF report 'fails to do justice' to the country's potential. The government remained deadlocked with its international lenders over debt bailout and possible debt relief measures leading to renewed concern about the Greece debt crisis. The issues were due to be discussed again at the Eurogroup meeting on the 20 February 2017. The Eurogroup was due to take stock of the ongoing implementation of Greece's macroeconomic adjustment programme, focusing on plans to carry forward the second review of the programme. Reviews were carried out by the staff of the European Commission, the European Central Bank, the European Stability Mechanism and the International Monetary Fund. Prior to that Greek Finance Minister Euclid Tsakalotos met representative sof the international institutions (European Commission, ECB, ESM and IMF) and Eurogroup President Jeroen Dijsselbloem on the 10 February 2017 to have a discussion on the state of play of the second review. News sources suggested that the international lenders would be asking Greece for additional initiatives to reduce expenditure by 1% of its GDP (€1.6 billion) in both 2017 and 2018. |
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Source Link | Link to Main Source https://www.imf.org/en/Publications/CR/Issues/2017/02/07/Greece-2017-Article-IV-Consultation-Press-Release-Staff-Report-and-Statement-by-the-44630 |
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Countries / Regions | Greece |