The Greek national debt is much larger than in recent weeks, it was thought, according to a fault analysis from the IMF last night sent to EU leaders.
Previous studies predicted that the Greek government debt would peak at 177% of GDP, but this figure has now risen to 200%. Also in 2022, the debt will stand at 170%, a strong increase with the expected two weeks ago 142%, writes Reuters.
The IMF believes that Greece needs a debt reduction. The next thirty years the country would not have to repay loans to the other euro countries or should be new money annually to the debt mountain sustainable. Also, there would be far-reaching debt restructuring is needed.
Greece with knife to the throat
The report comes a day after the euro countries Greece with a knife at the throat managed to to agree to the conditions for new financial support. If all conditions are met, the euro countries are thereby prepared to extend the maturity of their loans. However, direct debits are not addressed.
In total, Greece has over the next 82 years to 86 billion euros. Of these is probably 40 to 50 billion euros from European rescue fund ESM, as the negotiations for the next few weeks will be completed successfully. The rest must be brought together through loans from the IMF and the privatization proceeds.
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