Greek FinMin in Asia to drum up investors’ interest; crucial IMF summit next weekend
Greek Finance Minister Euclid Tsakalotos will have meetings this coming week with investment fund representatives in Hong Kong and Singapore, as the increasingly pressured coalition government continues to eagerly court investors around the globe for an inevitable – and by all accounts – risky return to sovereign markets.
Tsakalotos will then travel to Indonesia for an annual IMF summit next Friday and Saturday, where he expected to meet with IMF Managing Director Christine Lagarde.
The upcoming IMF forum is judged as particularly crucial for the Tsipras government’s attempt to avoid an already pre-legislated round of social security spending cuts, set for implementation in January 2019.
The poll-trailing coalition government is loath to apply the high-profile austerity measure months before a general election must be held, whereas the IMF’s officials have, at every turn, made it clear that they consider the pension cuts as a structural reform, and not a fiscal measure, whereby the cuts must be implemented.
IMF forecasts for the Greek economy’s macroeconomic and fiscal prospects will also be announced in Indonesia, figures which will weigh heavily on European creditors’ answer to Athens’ pressing request to suspend the measure.
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