Gov’t sees inaccuracies in IMF report

The government emphatically rejected on Friday the estimates of the International Monetary Fund on Greek growth and debt sustainability, despite the slight improvement in some of the IMF projections regarding the short-term outlook for the local economy included in the Article 4 report.

The Fund's report, published on Friday, retains the same core approach as was already communicated to Athens, remaining pessimistic about Greek growth prospects and the long-term sustainability of the national debt. It also continues to insist on the need for cuts to pensions and the tax-free threshold, as well as the abolition of protection for primary residences.

The IMF argues that, based on realistic macroeconomic assumptions, the sustainability of the debt is not assured: A combination of negative developments (lower growth, higher interest rates) would see it soar to 221 percent...