Greece’s creditors consider 2-month extension of bailout programme

19 April 2018
857 Views

The decision on the matters of whether the tax-free threshold will be put into effect from 2019 or 2020 and if a series of positive countermeasures would be implemented by the Greek government was referred by the institutions in Washington to the meeting between Greek Finance Minister Euclid Tsakalotos and the Troika in May.

In its Fiscal Monitor report released on Wednesday evening, the IMF forecasts a 2.9% GDP primary surplus for the current year as opposed to its initial projection of 3.5%, a discrepancy equal to 1.1 billion euros.

This revised outlook fuelled fears that there could be a 2-month extension of the memorandum with the implementation of a new package of austerity measures, apart from those the Greek government have already agreed to for 2019.

The Greek government responded to the news by leaking a non-paper attacking Greek media. The non-paper said among other things “the IMF estimate of a surplus of 2.9% for 2018 is revised upwards from the 2.2% target, which was approved by the Fund last summer”.

Sources say that the “supplementary memorandum” is clearly outlined in the scheduled talks between the Greek authorities and the institutions at the Hilton hotel that will resume in a few days.

You may be interested

Coronavirus Greece: 2,845 new cases, 165 intubated, 12 deaths
GREECE
shares38 views
GREECE
shares38 views

Coronavirus Greece: 2,845 new cases, 165 intubated, 12 deaths

makis - Jul 30, 2021

Greek authorities announced that the new laboratory-confirmed cases of coronavirus recorded in the last 24 hours are 2,845, of which…

Coronavirus Greece: 2,696 new cases, 157 intubated, 9 deaths
GREECE
shares43 views
GREECE
shares43 views

Coronavirus Greece: 2,696 new cases, 157 intubated, 9 deaths

makis - Jul 29, 2021

Greek authorities announced today that the new laboratory-confirmed cases of coronavirus recorded in the last 24 hours are 2,696, of…

Greek real estate market still strong despite Covid-19 pandemic, report shows
FINANCE
shares47 views
FINANCE
shares47 views

Greek real estate market still strong despite Covid-19 pandemic, report shows

Panos - Jul 29, 2021

The Greek real estate market is demonstrating resilience in 2020 despite the fact that the pandemic had an overall negative impact on the…

Leave a Comment

Your email address will not be published.