Wednesday April 1, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
IMF insists on eurozone lightening Greece’s debt

 Fund remains against horizontal cuts to salaries and pensions

By Katerina Sokou

The International Monetary Fund insists that Greece’s debt needs to be restructured and is waiting for the issue to be discussed this fall in the context of the Greek economy’s next assessment, a spokesman for the Washington-based Fund confirmed on Thursday.

In response to a question by Kathimerini, IMF deputy spokesman William Murray stressed that “there is an agreed framework in place which secures the sustainability of the debt.”

He stressed that if Greece fulfills its program commitments, its eurozone peers have agreed “to as much additional lightening of the debt as is necessary, so that they contribute to the reduction of the Greek debt to 124 percent of the gross domestic product by 2020, and considerably below 110 percent of GDP by 2022.” As Greece has achieved a primary fiscal surplus, the IMF expects that “these issues will be discussed with the Europeans in the context of the sixth assessment in mid-September,” and “with an intention as always to have an agreement as soon as possible.”

Asked whether the IMF will demand public sector layoffs or new salary reductions, Murray stressed that the Fund “supports the objective of the Greek authorities to avoid horizontal cuts to salaries and pensions… It is therefore important that structural reforms on the fiscal front are implemented, with the modernization of the fiscal institutions.” As an example he cited the improvement of the tax administration – “where progress continues to lag” – so that “everyone pays his share in taxes.”

Murray reiterated that Greece “has made huge progress in restoring its fiscal sustainability. We expect its fiscal target for this year to be met and we see no need for additional measures for 2014.” Regarding the rise in poverty in Greece as a result of the adjustment program, Murray admitted that “we understand the need to address poverty in Greece and everywhere, it is already being examined and I am sure this will form part of discussions in the future.”

ekathimerini.com , Thursday Jul 24, 2014 (22:57)  
Buffett says Greek exit from euro ‘may not be a bad thing’
European shares fall early; eurozone PMIs eyed
Business sentiment in decline
Ministry headache over T-bills
Greek economy minister sees deal with EU/IMF on reforms next week
Greece should reach a deal with its eurozone partners and the International Monetary Fund next week on a package of reforms, which will help to unlock remaining bailout funds, the country's ...
Finance Ministry officials to discuss talks progress as EU pushes for action [Update]
After several days of talks between representatives of Greece’s government and its creditors in Brussels on a proposed list of economic reforms, eurozone finance ministry officials are to di...
Inside News
BASKETBALL
AEK could get a wild card to the Euroleague
AEK shows capable of climbing as high as third in the Basket League, as its 16-point home win over third-placed Aris on Sunday confirmed it can challenge both Aris and PAOK to the first spot...
SOCCER
Cyprus soccer eyes reunion after 60-year divorce
Turkish Cypriot soccer officials on Monday vowed to press ahead with attempts to reunite with the Cyprus Football Association, (CFA), triggering a political storm on the ethnically-split isl...
Inside Sports
COMMENTARY
Going his own way
While up until the last election we had become accustomed to referring to the coalition government led by Antonis Samaras as one featuring a split personality, no political psychoanalyst cou...
EDITORIAL
Righting the wrongs
A country that wants to move forward should study and deal with its past mistakes in a mature and responsible manner. Greece was hit by an unprecedented debt crisis and it came to the brink ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Buffett says Greek exit from euro ‘may not be a bad thing’
2. European shares fall early; eurozone PMIs eyed
3. Greek economy minister sees deal with EU/IMF on reforms next week
4. Finance Ministry officials to discuss talks progress as EU pushes for action [Update]
5. Athens aims to tighten ties with Russia
6. Spike in migrants reaching Lesvos
more news
Today
This Week
1. Finance Ministry officials to discuss talks progress as EU pushes for action [Update]
2. Athens aims to tighten ties with Russia
3. Contested health law to be repealed
4. Spike in migrants reaching Lesvos
5. Going his own way
6. Righting the wrongs
Today
This Week
1. Next Monday is D-Day for state funds
2. Eurogroup unlikely to be held soon to discuss Greek reforms
3. Moscow expects progress from Tsipras visit
4. Some more equal than others
5. Greece to present reforms by Monday, says gov't spokesman [Update]
6. Greece optimistic on deal with euro area next week
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.