International Monetary Fund
Economy
Greece Central Bank Chief Pushes for Bailout Overhaul
According to the Financial Times, Yannis Stournaras, the bank governor of Greece's central bank has called for “a new deal” to help the country cope with the enormous task of reducing fiscal surplus before debt payments which Athens must achieve...
Economy
Greece Tells Creditors Some Measures are Too Harsh to Implement
The disbursement of the next loan tranche to Greece is at serious risk after Finance Minister Euclid Tsakalotos sent a letter to creditors saying that some of the required measures are too harsh to pass in Greek Parliament.
Specifically, the...
Economy
Eurogroup Backstage Drama: IMF's Disagreement Concerns EZ Finance Ministers
The Eurogroup meeting kept Eurozone finance ministers up until late in another sleepless night on Tuesday, May 24. A deal on Greece was finally reached at dawn the next day. This time, however, the delays were not high-stakes calls...
Economy
IMF Scathing Report Calls for Debt Relief by 50 Percent of Greek GDP
The International Monetary Fund (IMF) released its preliminary draft Debt Sustainability Analysis (DSA) on Monday, May 23. the DSA was prepared by the fund staff in the course of policy discussions with the authorities and the European institutions in...
Economy
Greece's EU Creditors Prepare For 11 Billion Euro Tranche After Review
Greece will receive an 11-billion-euro disbursement from its EU creditors (European Commission, European Central Bank, European Stability Mechanism) once the country completes a review of its bailout program. The funds will be for state arrears and debt servicing needs...
Economy
IMF Says Greek Debt Explosion to 293.8% of GDP by 2060
The International Monetary Fund's (IMF) analysis, presented by Bloomberg, states that Greek debt will soar to 293.8 percent of its GDP by 2060 if there is no debt relief. Statements point to an agreement possible at the Eurogroup meeting...
Business
Slim Chances of Large Tranche Disbursement for Greece on May 24
Expectations for the disbursement of a large tranche for Greece are being lowered just a week ahead of the Eurogroup meeting of Eurozone finance ministers in Brussels on May 24. A European official said that the first packet of...
Economy
Greek FinMin Euclid Tsakalotos: Upbeat and Relieved After Eurogroup
Greek Finance Minister Euclid Tsakalotos kicked off his press conference following the May 9 extraordinary Eurogroup meeting on Greece with optimism. "This was a very good eurogroup for Greece, and I think a very good eurogroup for Europe."
Speaking on...
Economy
Bloomberg: IMF Is Right to Want Greek Debt Relief
The editorial board of Bloomberg news agency co-signed an opinion article, titled "The IMF Is Right About Greece." The article justifies the International Monetary Fund's indirect threat of leaving negotiations if debt relief is not given to Greece.
"The IMF's...
Economy
Eurogroup Extraordinary Meeting: Watch Arrivals (video)
The Eurogroup is hosting an extraordinary meeting to discuss the state of play of the macroeconomic adjustment program for Greece following a vote of a new wave of pension and tax reforms voted on by Greek Parliament on Sunday.
Discussions...