Greece’s Public Debt Management Agency (PDMA) assessed that recent debt relief measures extended by Eurozone creditors last month ensure the medium-term sustainability of the country’s external debt.
The PDMA divided all debt relief measures into short-term ones, dating from a Eurogroup meeting in May 2016; medium term measures, which will be activated after the ESM program, and what the agency said was the “clearly” sustainable dynamic of the debt, as the ratio of debt to GDP is expected to ease to 128 percent of GDP by 2023 – down from a previous estimate of 134 percent of GDP.
