IMF to insist on pension cuts

The International Monetary Fund on Thursday issued a flat denial to the government's request to cancel the implementation of the planned pension cut in January 2019, while Finance Minister Euclid Tsakalotos appeared reserved about Berlin's attitude as he responded to investors' questions in London a day after meeting his German counterpart.

IMF spokesman Gerry Rice categorically told a press conference that nothing has changed in the Fund's positions on the pensions since the summer. The IMF considers the measure both structural and fiscal - unlike what the government claims.

The pension cut is a structural measure in the IMF's view because it will improve the long-term prospects of the social security system. Also in fiscal terms it will create the space required to introduce more policies to support vulnerable social groups and ease taxation so as to bolster growth....

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