BoG warns pandemic will leave trail of bad loans, hastening need for new tools

EconomyBanking Tags: Banking, BoG, NPLs
Photo by MacroPolis
Photo by MacroPolis

In its regular release cycle of the financial stability report on Thursday, Bank of Greece (BoG) stepped up its warnings regarding the pandemic’s impact on the Greek banking system.

Greece’s central bank notes that, according to its baseline scenario, the economy will shrink by 10 pct in 2020, before resuming a growth path of 4.2 pct this year and 4.8 pct in 2022. This is broadly in line with the Finance Ministry’s estimate of 4.8 ...

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