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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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EconomyMacroeconomy
Credit contraction accelerates to 1.5 pct in Dec, net lending flow remains subdued The rate of credit contraction in the Greek market accelerated to 1.5 percent in December after slowing to 1.3 percent in the previous month, Bank of Greece (BoG) figures displayed on Friday.
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EconomyBanking
BoG report reveals impact on banks’ capital from NPE reduction and loan sales In its latest overview of the Greek financial sector, Bank of Greece (BoG) presented the outcome of two important studies that examined the impact on capital ratios from the targeted non-performing exposure (NPE) reduction and potential NPE sales.
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EconomyBanking
In latest review of loan quality, BoG says capital ratios to remain high after targeted NPE reduction Bank of Greece (BoG) published on Thursday the second issue of its semi-annual overview of the Greek financial sector and provided an update on the key banking figures, mostly related to loan quality, in the first half of 2016.
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EconomyProgramme
Provisions of out-of-court workout bill outlined ahead of submission to Parliament In an interview with Ethnos daily on Saturday, Economy and Development Minister Dimitris Papadimitriou outlined the key highlights of the draft law on the out-of-court workout that is due to be tabled in the Parliament by the end of January.
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EconomyMacroeconomy
Credit contraction slows again in Nov, falling to 1.3 pct on additions of 62 mln The rate of credit contraction in the Greek market decelerated to 1.3 percent in November from 1.6 percent in October, Bank of Greece (BoG) figures showed on Thursday.
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EconomyMacroeconomy
Bank of Greece study finds one in six local firms is strategic defaulter In a separate section of the interim Monetary Policy Report published on Friday, the Bank of Greece (BoG) discussed the issue of corporate strategic defaulters i.e. companies that have stopped servicing their loans despite having the ability to make the payments.
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EconomyMacroeconomy
Bank of Greece sees potential for recovery, urges calm in negotiations In its interim Monetary Policy Report published on Friday, the Bank of Greece (BoG) called for a swift conclusion to the second programme review and implementation of reforms and privatisations.
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EconomyProgramme
Review talks continue in Athens in shadow of pension benefit row Discussions between the Greek ministers and the institutions’ mission chiefs resumed on Wednesday in the wake of the European Stability Mechanism (ESM) decision to put on hold the implementation of short-term debt relief measures until the institutions complete the examination of Greek government’s plan to pay out a bonus to pensioners.