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Tuesday, May 24, 2016

IMF Demands Unconditional Greek Debt Relief

The IMF has demanded that Greece be granted “unconditional” debt relief, if it is to stand any chance of getting its finances back under control and return to fiscal health.

An IMF debt sustainability analysis (DSA) described additional cuts faced by Athens as “daunting”, as it warned that “ambitious” targets agreed with the country’s creditors would be hard to achieve.

The IMF has called for a moratorium on debt payments until 2040.

All very well and nice, except that the other creditors don't agree. Today's Eurozone finance ministers meeting will be interesting to say the least.

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