IMF Predicts Difficulties in Greece’s Debt Management

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The IMF estimates that Greece will face difficulties in the management of her debt by the end of March, according to an article in the German magazine Der Spiegel, with the title “Bankruptcy already in May?”

According to the piece “the Fund is specifically worried about the willingness of many country-members of the European Union giving Greece greater concessions regarding the austerity measures of the program because of the current refugee and migrant crisis.” The piece goes on to say that “the IMF insists on the promises for reforms for Greece and has been blocking for a long time now the pending evaluation that will give the green light to the Fund to participate in the third bailout program.”

The article concludes that “Greece has promised a regular 3.5 % overflow budget in the GDP. Because they’re [Greece] unable to sufficiently tax the wealthier percentage of the population, they must cut down on the pensions.”