Early mar­ket re­turn not pro­duc­tive, says IMF

Kathimerini English - - Front Page -

The In­ter­na­tional Mon­e­tary Fund (IMF) con­sid­ers an early re­turn by Greece to cap­i­tal mar­kets as coun­ter­pro­duc­tive, ac­cord­ing to re­ports from Wash­ing­ton.

Even though it shares the same goal as the gov­ern­ment for Greece to tap in­ter­na­tional mar­kets, the IMF is re­port­edly cau­tious, at least for the time be­ing, over the out­come, as it could prove costly and may ad­versely im­pact the coun­try’s debt sus­tain­abil­ity.

IMF of­fi­cials in Wash­ing­ton re­it­er­ated that Athens still has a packed agenda ahead in order to en­sure the re­turn of trust, growth and mar­ket fund­ing.

This fol­lows last week’s re­marks by Delia Vel­culescu, the IMF’s mis­sion chief for Greece, who said that the test­ing of debt mar­kets must not in­crease the debt but, in­stead, should fa­cil­i­tate debt re­pay­ments in the medium and long term, in line with the coun­try’s bailout tar­gets.

The Wash­ing­ton-based or­ga­ni­za­tion be­lieves that a far more ef­fec­tive course of ac­tion would be a re­duc­tion of pri­mary sur­plus tar­gets to 1.5 per­cent of GDP after 2022.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.