Greece: Request for Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Greece

July 20, 2017

Summary

This paper discusses Greece’s Request for Stand-By Arrangement (SBA). The program will be narrowly focused on policies that can help restore macroeconomic stability in the medium run and facilitate market access in Greece. It seeks to provide breathing space to mobilize broad political support for the deeper structural reforms needed for Greece to liberalize its economy and prosper within the euro area in the long term. The program will also provide a framework for Greece’s European partners to deliver debt relief to restore Greece’s debt sustainability.

Subject: Asset and liability management, Debt relief, Expenditure, Fiscal policy, Income, Labor, National accounts, Nonperforming loans, Pension spending, Wages

Keywords: adjustment effort, article IV report, authority, CR, Debt relief, Europe, Global, Income, ISCR, liability positions vis-à-vis nonresident, overarching challenge, Pension spending, plan, product market reform, reform effort, short-term debt relief measure, sustainability, Wages

Pages:
127
Volume:
2017
DOI:
https://doi.org/10.5089/9781484311219.002
Issue:
229
Series:
Country Report No. 2017/229
Stock No:
1GRCEA2017004
ISBN:
9781484311219
ISSN:
1934-7685

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