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Home / World / IMF uncertain Greece's debt is sustainable in the long term

IMF uncertain Greece's debt is sustainable in the long term



ATHENS, Greece – Greece is still struggling after the end of its bailout program, and it is not clear that its public debt burden will be sustainable in the long term, the International Monetary Fund said Tuesday ,

An IMF report recommended lowering the high direct taxes imposed to regulate the country's public finances but also to restrict growth. 19659007] The economy is expected to grow by 2 percent this year and 2.4 percent in 2019, but decline to 1.2 percent in 2022. In the long term, according to the IMF report, population aging will continue to hinder the economy.

Greece's rescue programs end in three weeks. They were launched in 2010 when the country lost access to international bond markets after it misinformed its key financial data.

Starting August 21, it must be financed by bond sales, even though there is a high cash buffer of European creditors One month means that the country does not have to raise money fast enough.

The IMF, which contributed to the Greek rescue packages, said that the agreement of European creditors to facilitate repayment periods secures the medium-term sustainability of their debts' further promise to provide additional debt relief as needed is "very important and welcome" ,

"The longer-term prospects for (debt sustainability) remain uncertain," Greece's debt will plummet from an incredible 188 percent of annual output this year to just under 140 percent by 2037, said Peter Dohlman, IMF Head of Mission for Greece.

After that, however, the leverage ratio will rise. [19659014] The IMF report also pointed to the high rate of unemployment in Greece, which is currently at 20 per cent and is expected to decline to 14.1 per cent by 2023, and calls for measures to strengthen public administration and further reform the product mix. and labor markets.

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