Institutions call on Athens: Creditors teleconference with government on January 25th and new rating
New evaluation before the end of the enhanced post-memorandum supervision
Almost ten years after the first evaluation by the troika – which in 2015 was renamed “institutions” – Greece enters the final stretch for one of the last evaluations in the context of enhanced post-memorandum surveillance, which is typically completed in June.
On January 10, the technical staff starts work to prepare for the 13th evaluation in anticipation of the discussions that will take place at the level of the leader on January 25, remotely due to the dependence of “O”.
This assessment is not related to the disbursement of any installment, but it is of particular importance given that the road map of the pending issues will be locked until the country exits the strengthening of the post-memorandum supervision, which typically in June.
The completion of this framework will mark the end of an era at the political level, however, and even after this milestone, the reform course of the country that is under the microscope.
Not only from our faithful, the other eurozone member states to which we owe most of our debt, we will monitor the economic and reform in the country as part of the regular post-memorandum supervision.
They will be monitored mainly by the markets that for the next 12-18 months after the end of the enhanced post-memorandum supervision, will be in a state of “high alert” to certify the growth dynamics of the country but mainly the persistence in the reforms that the country needs. which insists on avoiding mistakes and delays in order to regain the investment grade in 2023.
According to the page close to the consultations, the pending cases of N. Katselis, the overdue cases of the State to individuals (a red card, over time for the creditors who exert special pressures especially in the field of pensions but also in the provision of liquidity to the indebted companies the State), and a number of reforms that are considered key to the medium term. growth dynamics of the economy, such as the acceleration of the administration of justice are high on the agenda of discussions with the institutions.
In addition to the reforms on the table, the most up-to-date data on the course of development and the management of the public treasury will be presented in the light of the pressures of The small in the economy, but also the course of prices as price increases put pressure on Greek households. possibly. and their ability to respond smoothly to a pile of tax liabilities, insurance contributions, etc.
In the discussions that will be formed at the same time the roadmap for the next steps towards the end of the enhanced post-memorandum supervision, and how it will be organized, as well as in the framework that will be valid for the months until the end of the country.
It should also be noted that by the end of January the public sector will be completed and formally the early repayment of 1.7 billion. euros to the IMF while by the end of March the early repayment of 5.2 billion. euros to Europeans.
Both estimates that they will be a strong signal to the markets that Greece is repaying, in full and earlier, its debts and has finally closed a multi-year cycle of unreliability towards international markets.
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