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Countries turn to the International Monetary Fund (IMF) when they face economic challenges, including balance of payments difficulties, financial pressures, or the need for financial support to address crises or finance development projects. The IMF provides financial assistance and tailored economic advice to countries to help them achieve economic stability and enhance
Countries turn to the International Monetary Fund (IMF) when they face economic challenges, including balance of payments difficulties, financial pressures, or the need for financial support to address crises or finance development projects. The IMF provides financial assistance and tailored economic advice to countries to help them achieve economic stability and enhance
Greece’s public debt may be the highest in the European Union by far, but remains viable even after the COVID-19 pandemic crisis, European Stability Mechanism (ESM) Managing Director Klaus Regling said at the Delphi Economic Forum in Athens on Thursday.
Speaking at the panel on “Addressing the Public Debt Issue Post-Pandemic”, Regling said that three reasons have helped its viability.
Greece’s very good fiscal state in 2019, before the crisis erupted;
the structure of the Greek debt following its restructuring, particularly the fact that 55% relates to low-interest and long-term loans ESM has provided; and
the European Central Bank’s monetary policy and the emergency measures it applied during the crisis, which helped de-escalate Greek bond interest rates.