The government is lining up a new set of economic measures to help businesses struggling due to the impact of the coronavirus after receiving the all-clear from the Eurogroup regarding this year’s fiscal target.
Fifth post-MoU review concludes successfully, EC highlights public investment, NPLs as areas of concern
As was widely anticipated, since it had been trailed by Economic Affairs Commissioner Paolo Gentiloni during his recent visit to Athens, Greece’s fifth post-programme review was successfully completed with a positive report published by the European Commission on Wednesday.
It is becoming increasingly clear that the Greek government will have to be patient in its bid to gain greater fiscal space, a move that would allow it to live up to its promise to voters of easing the tax burden.
Lenders conclude 'productive' talks on fifth review but issues remain as Athens targets fiscal space
The fifth post-programme surveillance review was completed on Friday following three days of talks between the Greek authorities and the heads of the institutions in Athens that were preceded by a week of discussions with the technical teams during the previous week.
Greece’s fifth enhanced surveillance review formally kicked off on Wednesday when the heads of mission started their meetings with the Greek authorities, following a week of preparatory work by the technical teams.
Greek government officials are due to begin meetings with the institutions’ mission chiefs on Wednesday as part of the fifth enhanced surveillance review, which Athens hopes will pave the way for its three fiscal demands to be met later this year.
Monday’s Eurogroup in Brussels will provide the first opportunity for the Greek government to sound out European officials regarding its efforts to create more fiscal space, while discussions will continue in Athens this week regarding the fifth enhanced surveillance review.
The Greek authorities left yesterday’s Eurogroup having secured the release of the profits that eurozone central banks made as part of the SMP and ANFA programmes.
Wednesday’s Eurogroup is expected to result in eurozone finance ministers approving the conclusion of the fourth enhanced surveillance review and the next round of debt relief measures, but will not include a discussion on how Greece can use the bond profits it will receive.
The Greek Finance Ministry announced on Monday that the process of prepaying some of the outstanding obligations to the IMF has been completed after Athens paid ahead of time 2.7 billion euros.