IMF sees eurozone debt relief pledges failing to deliver sustainability

EconomyProgramme
Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]
Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]

Following the executive board meeting on July 20 that approved in principle the precautionary Stand-By Arrangement (SBA) for Greece, the International Monetary Fund published its updated Debt Sustainability Analysis, which includes the relief measures that were agreed in the June 15 Eurogroup.

As it outlined in its recent Article IV for Greece, the DSA is based on the Gross Financing Needs (GFN) framework due to the majority of Greeceā€™s debt consisting of official sector loans with favourable servicing terms. Also, the financing needs framewo...

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