IMF: Greece will not be able to pay its debts in March

Proto Thema – The International Monetary Fund estimates that Greece will face great difficulties in servicing its debts in March, according to an article published by German magazine Der Spiegel entitled “Bankruptcy in March?”.

As the article mentions, the Fund is particularly concerned about the fact that many member states of the European Union are willing to make more concessions regarding the austerity conditions of the third Greek program due to the huge refugee and immigrant flow that the country has to deal with.

“The IMF insists on the promises of the Greeks regarding the reforms and puts obstacles on the pending program review, which would give the green light to the participation of the Fund in the third bailout program” the article says, adding that IMF points out that the Greeks have promised permanent surpluses of 3.5% of GDP each year and since the government has failed to tax rich people, it must cut the pensions.

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