Greek debt will become 'explosive' within 13 years

"Yesterday the FT said it had caught a glimpse of an as-yet-unpublished report which showed the IMF's staff have argued debt in the country is on an "'explosive' path to reaching nearly three times the country's annual economic output by 2060".

But Lagarde said following a speech that the fund in the review of the Greek economy "tried in full honesty to be those ruthless truthtellers" despite the criticism.

Eurogroup head Jeroen Dijsselbloem said on Tuesday he had been "surprised" by the IMF's tough tone, saying: 'Greece is already doing rather better than what is described in the report.

"Most Directors [of the IMF Executive Board] considered that, despite Greece's enormous sacrifices and European partners' generous support, further relief may well be required to restore debt sustainability".

UN Sees Record Spike in Civilian Children Killed in Afghanistan
Monday's UNAMA report recorded the highest number yet of civilian casualties caused by air strikes - 590, of whom 250 were killed. The deaths themselves were a 2 percent drop from 2015, but the injuries jumped by six percent.

The IMF also took the unusual step of conceding that its board was split over the findings, though most of the 24 agreed with the "thrust" of the appraisal.

While the International Monetary Fund board did not discuss the loan program, the board members representing the 189 International Monetary Fund member countries agreed in urging Greece to speed up implementation of reforms - especially improving tax collection - to get the economy back on sound footing.

Since the financial crisis left it buried in debt and unable to issue bonds in financial markets, Greece has relied on worldwide bailouts. But he ruled out any relief on principal debt. It also needs to agree another bailout deal before the next meeting of eurozone finance ministers in two weeks. The IMF forecasts that government debt will reach 160% of gross domestic product (GDP) by 2030, and would "become explosive thereafter".

That would allow the country to join the European Central Bank's bond-buying program, which would boost market confidence and make it easier for Greece to return to the bond market later this year.

Related Articles

  • Top Senate Democrat says has 'serious concerns' about court nominee Gorsuch

    The two have received criticism from Democrats for refusing to consider Merrick Garland, then-President Barack Obama's nomination. Tom Price for Secretary of Health and Human Services, or Steve Mnuchin for Secretary of the Treasury.
    Ban on Russian athletes extended until November by IAAF

    Ban on Russian athletes extended until November by IAAF

    So far in 2017, 35 Russian athletes have applied to compete as neutral athletes in global competition, the statement added. An earlier report found evidence of state-supported doping of Russian athletes at the Sochi winter games.
    Iowa reports rising number of flu-related deaths

    Iowa reports rising number of flu-related deaths

    Still, the CDC says that the best way to protect yourself and others from influenza is to get vaccinated. The victims include 19 people 81 or older and two people between 61 and 80 years old.
  • Three spends £250m for added Relish

    The transaction, which is yet to close, will see UK Broadband Limited become a wholly owned subsidiary of Three UK. It has since expanded to the Reading and Swindon areas, using regional spectrum licences it acquired in 2003.
    Australians Protest Trump Refugee Ban in the Thousands

    Australians Protest Trump Refugee Ban in the Thousands

    Australia's offshore detention camps have often been criticized by the United Nations watchdogs for harsh conditions. Under a longstanding policy, Australia mandates offshore detention centers for asylum-seekers who arrive by boat.

    Ford Raptor VS 2014 Ford Raptor: Which is Faster?

    Ford Motor Co. announced it is exporting the first United States-built F-Series truck to China in the 2017 F-150 Raptor. The truck's Terrain Management System includes six driving modes: normal; street; weather; mud and sand; baja; and rock.
  • Final Fantasy XV's Power Rangers Suits Have to Be Redesigned, Are Delayed

    Now back to Final Fantasy XV , whose Feb 21 update will add limited time quests, a notable feature of 2016's Hitman . In any case, Director Hajime Tabata generously permitted them to see other things during their visit.

    Indicates Potential 9.47% Increase In Shares Of Twenty-First Century Fox Inc

    Important factors to focus when evaluating a stock's present and future value are the 52 week price high and low levels. On a daily basis over the past month, the average true range of the stock, as expressed in percentage terms, is 1.8%.

    Netanyahu Meets with British PM, Calls on United Kingdom to Address "Iran's Aggression"

    A spokesperson for May said during a press briefing on Monday, "We share concerns about that test". Mr Netanyahu said Israel had briefed the White House before moving ahead with the legislation.
  • Israel approves controversial settlement expansion bill

    "The bill has been deemed unconstitutional by the Attorney General of Israel and is in contravention of worldwide law". Israel disputes this and cites biblical, historical and political connections to the land, as well as security needs.

    Ivanka Trump & Jared Kushner May Have Just Quietly Helped The LGBTQ Community

    The executive order would have reversed an order banning contractors from discriminating against LGBT people. The executive order has exposed what is likely to be a persistent schism in Mr.

    Family confirms Toronto filmmaker Rob Stewart dead after dive in Florida

    Janszen said another diver in Stewart's group had passed out and was being tended to on the dive boat when Stewart resurfaced. Stewart's Sharkwater received praise and honors around the globe after debuting at the Toronto Film Festival.