IMF sees GDP shrinking by 9.5 pct in 2020, warns about pace of fiscal consolidation
Seventh post-bailout review completed, lenders flag up state arrears and unpaid pensions
ESM report highlights programme weaknesses, outlines improvements for future bailouts
Satisfied with reform commitment and pandemic response, EC wraps up sixth post-MoU review
Fifth post-MoU review concludes successfully, EC highlights public investment, NPLs as areas of concern
Piecemeal process likely in drive for more fiscal space
IMF sets out stall ahead of crucial Eurogroup by proposing immediate debt relief
Ahead of the Eurogroup meeting on Tuesday, the International Monetary Fund published its preliminary debt sustainability analysis (DSA), which was distributed to its Executive Board but was neither discussed nor approved.
The report notes that the programme’s initial implementation problems mounted from mid-2014, with across-the-board reversals after SYRIZA came in power in January 2015. The DSA published by the Fund last June had shown that the agreed debt targets would...
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