MacroPolis

IMF argues case for further reform of pension system

10/02/2017 - 10:27

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.

IMF examines where programme went wrong, what lessons were learnt

08/02/2017 - 12:01

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

08/02/2017 - 10:49

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

07/02/2017 - 23:06

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

07/02/2017 - 23:05

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.

IMF proposes rebalancing of fiscal policy, reform implementation and debt relief

07/02/2017 - 10:04

The International Monetary Fund’s executive board convened on Monday evening to discuss the Article IV consultation on Greece.

Athens accepts review's toughest fronts remain open

01/02/2017 - 11:37

One day after a Bloomberg report cited a memo discussed at the last Eurogroup, which noted that almost two thirds of the second programme review prior actions have yet to be completed, the Greek government gave its own view on the state of play in the review process on Tuesday evening.

IMF's outlook on debt unsustainability adds to doubts after inconclusive Eurogroup

27/01/2017 - 10:07

The Greek government attempted to put a positive spin on Thursday’s Eurogroup even though it seems to have come under strong pressure to adopt the fiscal measures demanded by the International Monetary Fund in advance and emerged from the Brussels meeting without any clear indication of when or under what terms the institutions will return to Athens.

Eurogroup sheds little light on how Greek review will progress

26/01/2017 - 21:54

Thursday’s Eurogroup yielded little in way of tangible results for the Greek programme, apart from a clear insistence on the side of the European lenders that the International Monetary Fund should remain fully involved in the bailout.

ESM and EFSF approve short-term debt relief measures for Greece

24/01/2017 - 09:56

The short-term debt relief measures for Greece were approved by the board of directors (BoD) of the European Stability Mechanism (ESM) and the European Financial Stability Fund (EFSF) on Monday.