Greece: An Update of IMF Staff’s Preliminary Public Debt Sustainability Analysis

International Monetary Fund

No 2015/186, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents an update to IMF staff’s Preliminary Public Debt Sustainability Analysis on Greece. Greece’s public debt has become highly unsustainable. This is owing to the easing of policies during 2014, with the recent deterioration in the domestic macroeconomic and financial environment because of the closure of the banking system adding significantly to the adverse dynamics. The financing need through end-2018 is now estimated at euro 85 billion, and debt is expected to peak at close to 200 percent of GDP in the next two years, provided that there is an early agreement on a program.

Keywords: ISCR; CR; financing; Greece; debt relief; GDP; need; debt sustainability point; gross financing; debt dynamics; Greece's debt; GDP threshold; financing need; Public debt sustainability analysis; Debt sustainability analysis; Commercial banks; Debt sustainability; Europe (search for similar items in EconPapers)
Pages: 4
Date: 2015-07-14
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