IMF: Greece won’t meet fiscal surplus targets set by creditors - Bloomberg

Greece was on the wires, via Bloomberg, as the country pushed back against the International Monetary Fund’s view that the government’s economic reforms are heading off track.

Key Highlights:

•Talks between Greece and creditors for the completion of the second review of its 86 billion-euro ($92 billion) bailout program have stalled over significant differences between the IMF and euro-area on projections for Greece’s economy, targets and debt sustainability.

•The yield on two-year notes inched closer to 10 percent on Wednesday after jumping 80 basis points the day before as the quarrel fueled concern the country is running out of time to complete the review before the busy election season begins.

•The fund’s assessment of the Greek economy presents an overall picture of the reform effort that’s not representative of the actual achievements of the Greek government during its bailout program, Euclid Tsakalotos (Finance Minister) responded. 

•Dutch Finance Minister Jeroen Dijsselbloem, who chairs the Eurogroup of euro-area finance ministers, echoed the Greek criticism of the IMF.