IMF insists fiscal targets unrealistic, cites historical evidence to support case

EconomyProgramme Tags: Austerity, Budget, IMF
Photo by Panayotis Tzamaros/Fosphotos
Photo by Panayotis Tzamaros/Fosphotos

From the start of Greece’s third European Stability Mechanism, programme in the summer of 2015, the International Monetary Fund had been calling for realistic assumptions in the assessment of Greece’s debt sustainability.

One of those assumptions, which still separates the Fund and eurozone creditors and keeps the IMF on the sidelines, is the combination of the duration and the scale of the primary surpluses that Greece has to maintain.

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