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IMF revises fiscal outlook, sees lower primary surpluses in coming years
EconomyMacroeconomybalance turning to a small deficit of 0.3 percent this year, which accelerates to 1 percent next year..., Greece would run a surplus for the entire forecast horizon. The cyclically-adjusted primary balance... year to 154.1 percent in 2024. Debt estimates are more conservative than April’s monitor, which
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Travel surplus rises by 12.7 pct in 9M
EconomyMacroeconomyThe balance of travel services came to a surplus of 14.10 billion euros for the first nine months (9M) of the year, Bank of Greece (BoG) noted in its travel balance report. This year’s figure is 12.7 percent higher than that for the same period last year when it came to 12.51 billion euros
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BoG stresses more work needed on NPE reduction, pushes bad bank idea
EconomyBankingpressure on the asset quality of the balance sheets. The NPE ratio at the end of the first quarter... of 2018 stock of 81.8 billion. From its peak in March 2016, NPE stock has dropped by more than a third... it is a priority that additional tools are deployed in helping banks to restore their balance sheets
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Eurobank net results show profit of 176 mln in H1
EconomyBankingsecuritisation. The NPL balance came to 4.8 billion euros. The NPL ratio came to 12 percent in H1 from 25.9... million in H1, corresponding to 144 basis points of the average net loans. Balance Sheet Eurosystem... to increase by more than 2 billion euros for the full year. “Having built a resilient business model
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Greek banks look to post-pandemic landscape with ongoing bad loan reductions, moratoria easing
EconomyBankingmoratoria. In an effort to restore their balance sheets, banks are now looking for ways to bring such loans.... This is expected to take place within November. More than 90 percent of the portfolio consists of loans... the balance sheets of Greece’s banks. At the start of October, a proposal for the bad bank was set out
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Moody's upgrades Greece to 'Ba3' on back of reforms, warns of tricky period ahead
Economystrong actions to deal with the weak quality of the balance sheets. The agency outlines... that urge additional solutions for the balance sheet clean up, including the proposal of a bad bank... if the form implementation continues with tangible results, the debt ratio de-escalates faster than
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BoG warns pandemic will leave trail of bad loans, hastening need for new tools
EconomyBanking. Specifically, when Greek GDP contracted by 25 pct in the previous decade, NPEs grew by more than 300... their balance sheets and, equally importantly, to deal with the issue of capital quality. According... help in dealing with the major issue of balance sheet quality, so they are in a position soon
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Banks tout ambitious NPE plans to return to European mainstream
EconomyBankingincrease – with the dilution of existing shareholders that comes with that – than it is on the bank’s... percent. Piraeus has an aggressive timeline of restoring health to its balance sheet with a goal of a 3... of 2022, according to the newspaper. Securitizations For Eurobank and Piraeus, the price of their balance
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IMF maintains cautious view on public finances, sees debt declining slowly
EconomyMacroeconomyfinances. The Fund sees Greece closing this year with an overall balance of 10.2 pct of GDP, following... of GDP in 2022, towards 1.6 pct in 2026. The primary balance is seen repeating a deep deficit of 7.3... in 2026. These forecasts are significantly more modest than those included in the Medium-Term Fiscal
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Sharp rise in employed as unemployment falls to 13 pct in Sep, lowest since Aug 2010
EconomyMacroeconomyfor September showed the employment balance was positive with 19,727 more hirings than people leaving their jobs. The overall balance during the first nine months of 2021 stood at 284,857, improved by 130,681
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