Economy
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.
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.
Trade deficit increases 4.8 pct in Dec and 4.5 pct in 2016 on rising imports
Greece’s trade deficit increased at a faster pace of 4.8 percent in December from 1.2 percent in the previous month, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
![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.
Property tax eats into Grivalia’s 2016 profits
Grivalia Properties has released it end of year financial results for 2016, showing that the Group’s operating profit for the year came to amounted to 32.4 million euros compared to 64.9 million euros for 2015, a drop of 50 percent.
Banks see efficiency gains after shedding 29 pct of staff, 42.6 pct of branches during crisis
The impact from the restructuring of the Greek banking system during the crisis years was depicted in the figures provided by the Hellenic Bank Association (HBA) on Friday.
Revenues reach 4.3 bln in January, beating target by 258 mln
Greece’s revenues before tax refunds stood at 4.27 billion euros in January, beating the target by 258 million, according to preliminary figures published by the Independent Authority for Public Revenue (IAPR) on Friday.
General gov't primary cash surplus up to 5 bln in 2016, arrears fall by 1.1 bln in Dec
Greece’s general government (gg) primary cash surplus increased by 1 billion euros to 5 billion in 2016 from around 4 billion in the previous year, the Finance Ministry (MoF) gg bulletin revealed on Friday evening.
Stocks fall for fourth straight week amid lack of progress in talks with lenders
The Greek stock market started the week tumbling 3.5 percent on Monday in the wake of the deadlock over the programme review.
Minor fluctuations in deposit and loan interest rates in December
Greek households’ new time deposit rate edged down by 1 basis point (bp) to 0.70 percent in December after a higher drop by 5 bps in November, Bank of Greece (BoG) data displayed on Thursday.