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EconomyMacroeconomy
IMF expects difficult year for public finances, PBO highlights impact on labour force The IMF released on Wednesday its Fiscal Monitor report, which compounded the grim picture for Greece on the budget front, after the forecast for a 10 pct in the World Economic Outlook that was published on Tuesday.
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EconomyMacroeconomy
IMF sees 2020 GDP contraction at 10 pct, budget deficit at 9 pct due to virus impact The IMF released on Tuesday its latest economic estimates in the context of the World Economic Outlook, which has incorporated the impact of what it calls The Great Lockdown that sees global GDP dropping by 3 pct in 2020, subject to various uncertainties.
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PoliticsGreek Politics
In Washington, Mitsotakis stresses economic recovery, geopolitical importance as IMF departure announced Prime Minister Kyriakos Mitsotakis had the opportunity on Tuesday to fill US President Donald Trump in on Greece’s economic recovery, while also gauging the level of support Athens can expect from Washington in the former’s escalating dispute with Turkey.
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EconomyFeatures
IMF paper suggests shadow economy still thriving A working paper from the International Monetary Fund (IMF) on the shadow economy of Europe has shown that the phenomenon continues to persist in the Greek economy.
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EconomyProgramme![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/]")
Focus shifts to DSA, fiscal targets after IMF loan prepayment The Greek Finance Ministry announced on Monday that the process of prepaying some of the outstanding obligations to the IMF has been completed after Athens paid ahead of time 2.7 billion euros.
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EconomyProgramme
Despite differing views IMF and EC see no immediate debt sustainability concerns Greece’s debt sustainability was assessed again by the two main institutions tasked with the analysis of the viability of the country’s debt, the IMF as part of the Article IV consultation process published last week and the European Commission in the fourth post-programme review released on Wednesday.
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EconomyBanking IMF consultation report pinpoints health of Greek banks as central to growth In the Article IV consultation report that was published on Friday, the International Monetary Fund (IMF) took a detailed look into Greece’s banking sector, as the Fund has repeatedly stated that restoring Greek banks back to health is a prerequisite for the country to attract investment and achieve higher growth rates, while it remains an area of fiscal and wider financial stability risks.
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EconomyProgramme IMF cool on growth, urges greater effort on bank, fiscal and labour reforms The International Monetary Fund (IMF) issued on Friday its latest Article IV consultation report for Greece and its assessment of the condition and prospects of the Greek economy.
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EconomyProgramme
Greek govt gears for final Eurogroup of 2019, hoping for better terms The Greek government has set its sights on the last Eurogroup of the year, hoping that it will manage to secure from the country’s official creditors higher investment spending through the allocation of SMP and ANFA profits that are due to be released in two tranches next year, and a looser fiscal path from 2021.
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EconomyProgramme
Athens hopes IMF prepayment go-ahead aids case for lower fiscal targets The Greek government is hoping to get the all-clear from the European Stability Mechanism (ESM) on Monday to make a loan pre-payment to the International Monetary Fund, a move which Athens hopes will boost its chances of convincing its creditors to lower its fiscal targets for the coming years.