Greece: Preliminary Draft Debt Sustainability Analysis

International Monetary Fund

No 2015/165, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper analyzes the debt sustainability in Greece. At the last review in May 2014, Greece’s public debt was assessed to be getting back on a path toward sustainability, though it remained highly vulnerable to shocks. By late summer 2014, with interest rates having declined further, it appeared that no further debt relief would have been needed under the November 2012 framework, if the program were to have been implemented as agreed. But significant changes in policies since then are leading to substantial new financing needs. To ensure that debt is sustainable with high probability, Greek policies will need to come back on track.

Keywords: ISCR; CR; debt; GDP; interest rate; real GDP; debt dynamics; GDP target; debt sustainability; GDP ratio; debt stock; current account; debt burden benchmark; Debt sustainability analysis; Debt sustainability; Privatization; Europe (search for similar items in EconPapers)
Pages: 24
Date: 2015-07-02
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