In a report released on Tuesday, the International Monetary Fund said Greece has made significant progress. However, the country will probably need further debt relief, noted Goldman Sachs today.
Greece has made significant progress towards rebalancing the economy and its gradual recovery, the International Monetary Fund (IMF) said in its fifth review of the Greek programme, but noted that “a series of challenges needed to be overcome.”
In regard to further debt relief, Poul Thomsen, head of the IMF’s Greece team, said: “There is an agreed framework in place for ensuring debt sustainability, with Greece’s European partners agreeing to provide any additional debt relief as needed to help bring Greece’s debt down to 124 percent of GDP by 2020 and to substantially below 110 percent of GDP by 2022, as long as Greece continues to deliver on its program commitments.”
Source: www.newmoney.gr.