Covid-19 leaves Greece facing 200 pct debt-to-GDP ratio in 2021, long road to sustainability
Lenders acknowledge reforms, flag up tricky fiscal path ahead
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
Athens eyes ample cash buffer, prepares for bond swap
Speaking to a parliamentary committee on Wednesday, Alternate Finance Minister Giorgos Houliarakis highlighted the government’s plans for creating an ample cash buffer before it exits the third programme next summer.
The creation of this reserve was one of the points agreed at the June 15 Eurogroup earlier this year and gives Athens a chance of leaving the bailout without the need for a new loan package or a precautionary credit line.
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