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In 9th post-bailout review, EC sees reforms slowing due to pandemic
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Covid-19 leaves Greece facing 200 pct debt-to-GDP ratio in 2021, long road to sustainability
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Lenders acknowledge reforms, flag up tricky fiscal path ahead
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![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-small.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
IMF sees GDP shrinking by 9.5 pct in 2020, warns about pace of fiscal consolidation
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Seventh post-bailout review completed, lenders flag up state arrears and unpaid pensions
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Satisfied with reform commitment and pandemic response, EC wraps up sixth post-MoU review
ESM report highlights programme weaknesses, outlines improvements for future bailouts
The European Stability Mechanism published on Thursday, along with its 2019 annual report, an independent evaluation of the Greek bailout programmes.
The review was led by ex-EU Commissioner Joaquin Almunia and although its primary focus was the third and final ESM programme it did consider the second Greek rescue package granted by the EFSF.
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