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Greece needs substantial debt relief, surplus targets unrealistic: IMF – Reuters UK

By George Georgiopoulos and Lefteris Papadimas
| ATHENS

ATHENS Greece needs substantial relief to render its debt load sustainable and help set its ailing economy on a recovery path, the International Monetary Fund said in an annual review on Friday.

The review, which is separate from current bailout implementation talks, said debt relief must be calibrated on credible fiscal and growth targets, and noted that current primary budget goals beyond 2018, which exclude debt servicing costs, are unlikely to be reached.

“The authorities’ current targets remain unrealistic, in that they still assume that Greece will attain and sustain primary surpluses of 3.5 percent of GDP for many decades despite double-digi…

Read the full article at: http://uk.reuters.com/article/us-greece-imf-economy-idUKKCN11T1G5

Category: Debt HelpBy Insolvency Advisory AccountantsSeptember 26, 2016

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Greece needs substantial debt relief, surplus targets unrealistic – IMF – Reuters UK

By George Georgiopoulos and Lefteris Papadimas
| ATHENS

ATHENS Greece needs substantial relief to render its debt load sustainable and help set its ailing economy on a recovery path, the International Monetary Fund said in an annual review on Friday.

The review, which is separate from current bailout implementation talks, said debt relief must be calibrated on credible fiscal and growth targets, and noted that current primary budget goals beyond 2018, which exclude debt servicing costs, are unlikely to be reached.

“The authorities’ current targets remain unrealistic, in that they still assume that Greece will attain and sustain primary surpluses of 3.5 percent of GDP for many decades despite double-digi…

Read the full article at: http://uk.reuters.com/article/uk-greece-imf-economy-idUKKCN11T1G1?il=0

Category: Debt HelpBy Insolvency Advisory AccountantsSeptember 23, 2016

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PreviousPrevious post:Shane Ross ‘had no objections’ to Bus Éireann restructuring – Irish TimesNextNext post:EnerNOC Announces Plan to Restructure its Energy Intelligence Software Business – Nasdaq

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