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EconomyProgramme
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.
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EconomyProgramme
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.
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EconomyProgramme
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.
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EconomyProgramme
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.
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EconomyProgramme![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-medium.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
IMF proposes rebalancing of fiscal policy, reform implementation and debt relief The International Monetary Fund’s executive board convened on Monday evening to discuss the Article IV consultation on Greece.
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EconomyProgramme
IMF's outlook on debt unsustainability adds to doubts after inconclusive Eurogroup 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.
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EconomyProgramme
ESM and EFSF approve short-term debt relief measures for Greece 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.
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EconomyProgramme
ESM board to specify rules on short-term debt relief measures The European Stability Mechanism (ESM) said on Thursday that its board of directors (BoD) will meet on January 23 to specify the rules of the short-term debt relief measures for Greece.
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PoliticsGreek Politics
Lenders' reaction to pension pledge leaves Tsipras short of options Greece’s negotiations with its lenders became more complex on Wednesday when the European Stability Mechanism revealed that it has put on hold the implementation of short-term debt relief measures agreed at this month’s Eurogroup because of doubts regarding the benefits for pensioners announced by Prime Minister Alexis Tsipras last week.
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PoliticsGreek Politics
Athens sees flexibility on fiscal targets, singles out IMF over role There was a fairly subdued reaction from the government to the outcome of Monday’s Eurogroup, although the coalition did turn its fire on the International Monetary Fund and indicated it would strive to avoid having to agree any new measures now.