IDEAS home Printed from https://ideas.repec.org/p/imf/imfscr/2016-130.html
   My bibliography  Save this paper

Greece: Preliminary Debt Sustainability Analysis-Updated Estimates and Further Considerations

Author

Listed:
  • International Monetary Fund

Abstract

This paper provides preliminary debt sustainability analysis (DSA) of Greece. Debt was deemed sustainable, but not with high probability, when the first program was adopted in May 2010. The much deeper-than-expected recession necessitated significant debt relief in 2011–12 to maintain the prospect of restoring sustainability. Serious implementation problems caused a sharp deterioration in sustainability, raising fresh doubts about the realism of policy assumptions, especially from mid–2014. Developments since last summer suggest that a realignment of critical policy, and DSA assumptions can no longer be deferred if the DSA is to remain credible. Staff believes that revised program targets remain sufficiently ambitious to warrant continued support from Greece’s European partners.

Suggested Citation

  • International Monetary Fund, 2016. "Greece: Preliminary Debt Sustainability Analysis-Updated Estimates and Further Considerations," IMF Staff Country Reports 2016/130, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2016/130
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=43915
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Panayiotis Alexakis & Gikas Hardouvelis & Dean Paxson & Gordon Sick & Lenos Trigeorgis, 2018. "Greek Sovereign Debt: Addressing Economic Distress and Growth in the Euro Area," Multinational Finance Journal, Multinational Finance Journal, vol. 22(1-2), pages 1-33, March - J.
    2. Amanatidou Effie & Damvakeraki Tonia & Karvounaraki Athina, 2017. "RIO Country Report 2016: Greece," JRC Research Reports JRC105901, Joint Research Centre.
    3. Effie Amanatidou & Tonia Damvakeraki & Athina Karvounaraki, 2018. "RIO Country Report 2017: Greece," JRC Research Reports JRC111358, Joint Research Centre.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfscr:2016/130. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.