Economy
IMF examines how Greece accumulated large pile of unpaid taxes and contributions
The issue of Greece’s exceptionally high tax and social security debt is discussed in an International Monetary Fund paper published with the release of the Article IV consultation and ex-post evaluation earlier this week.
IMF argues case for further reform of pension system
One of the issues discussed in a recent International Monetary Fund paper deals with the Greek pension system and notes that the most recent reform goes in the right direction since it removes some distortions and reduces the overall pension cost.
Apartment prices drop 0.6 pct in Q4 and 2.2 pct overall in 2016
Apartment prices in Greece dropped at a decelerating pace of 0.6 percent in the fourth quarter (Q4) of 2016, following a decline by 1.5 percent in Q3, Bank of Greece (BoG) data showed on Thursday.
Industrial production rises at slightly faster pace of 2.2 pct in Dec
The Greek Industrial Production Index (IPI) increased by 2.2 percent in December after a downward revised growth of 2 percent in November, Hellenic Statistical Authority (ELSTAT) data showed on Monday.
Unemployment rate stable at 23 pct in November
Greece’s seasonally adjusted (SA) unemployment stayed stable at 23 percent in November, Hellenic Statistical Authority (ELSTAT) labour force survey revealed on Thursday.
Car sales soar 22.8 pct in first month of 2017
Road motor vehicles (going into circulation for the first time) surged 22.8 percent in January after a double-digit drop of 19.8 percent in December, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
IMF examines where programme went wrong, what lessons were learnt
Following the International Monetary Fund’s executive board meeting on Monday, the Washington-based organisation published its ex-post evaluation report on Tuesday evening.
Tsakalotos and Stournaras raise objections to IMF assumptions
The Article IV consultation report on Greece published by the International Monetary Fund on Tuesday evening included letters by the Greek Finance Minister Euclid Tsakalotos and Bank of Greece governor Yannis Stournaras, which both outlined their disagreement on certain assumptions and comments in IMF’s debt sustainability analysis (DSA) and ex-post evaluation report.
IMF far more pessimistic than eurozone on Greek debt, urges significant relief
The International Monetary Fund's updated Debt Sustainability Analysis (DSA) sees Greek debt as being highly unsustainable and stresses that even with the full implementation of the policies included in the third eurozone bailout programme, both debt and financing needs will become explosive in the long-run.
IMF sees much scope for reform progress, particularly on tax in Article IV report
Despite the significant progress made so far, Greece faces fundamental challenges such as vulnerable public finances, notable tax evasion and ineffective tax administration, impaired bank balances sheets and pervasive structural obstacles to investment and growth, the International Monetary Fund’s Article IV consultation report concludes.