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How much relief is actually needed to restore public debt sustainability

Monokroussos, Platon, (2017), “How much relief is actually needed to restore public debt sustainability”, Eurobank, 4 May

The material presented herein is based on a number of published official documents that include, inter alia, the European Commission’s compliance report on the first review of Greece’s Third Economic Adjustment Programme (June 2016) and the IMF’s Article IV consultation report (February 2017). The study attempts a replication of the debt sustainability analyses (DSA) presented in the aforementioned on the basis of a number of simplifying (yet necessary) assumptions made by the author to make up for some important information pieces that are missing from the official documents. Therefore, the numerical results presented in this study may deviate somewhat from the respective official estimates and projections. See also important disclaimer at the last page (#30) of this report.

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