The IMF on Wednesday reiterated the need for a significant restructuring of the Greek public debt, during a presentation of its bi-annual World Economic Outlook report in Washington D.C.
According to Vitor Gaspar, the IMF’s Director of the Fiscal Affairs Department and a former Portuguese FinMin, the Fund backs efforts for reforms, in order to achieve realistic goal. Such “realistic goals”, he said, mean that European creditors must accept debt relief measures for Greece.
Moreover, the Fund’s Fiscal Monitor review predicts a primary budget surplus of 0.1 percent of GDP for 2016 and a 1.8 percent figure for 2017. Nevertheless, the Fund said it considered the targets cited in this week’s Greek draft budget for 2017, 0.6 and 1.8 percent, as unrealistic.
