Athens Macedonian News Agency: News in English, 17-02-06

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Greek public debt highly unsustainable, IMF report

[02] PM Tsipras: Uncertainty will end

[03] Greek banking system supports growth initiatives

[01] Greek public debt highly unsustainable, IMF report

The report, exclusively presented by ANA, said that the Greek economy faced four challenges.

The country's public debt was highly unsustainable the IMF said and recommended a series of measures towards this direction. The Fund recommends that Greece should adopt a "fiscal neutral policy" and noted that its economy did not need any further adjustment. However, it noted that "fiscal reforms" were needed such as reducing a tax exempt sum in order to expand the tax base and deal with the tax evasion problem.

The IMF said that the country's financial sector should drastically reduce its non-performing loans, to strengthen corporate governance rules and to abolish remaining limitation in capital movement (capital controls) the soonest possible

[02] PM Tsipras: Uncertainty will end

Earlier, Tsipras had a meeting with his associates.

[03] Greek banking system supports growth initiatives

The survey said that in the last two months of 2016, net loan flows to enterprises grew slightly for the first time in the last five years, after a negative 3.8 pct monthly net loan float rate recorded in the period from January 2011 to October 2016. This trend has now been reversed.

Greek banks' efforts to contribute in the development of the economy are promoted both through their autonomous action and through a series of partnerships and synergies with a variety of agencies and services.

Greek banks offer, among others, offer moving capital, fixed capital, factoring and leasing services, guarantee offer, special support to export enterprises, credit, letters of guarantee, farm contract loans, commercial property loans and co-funded loans for manufacturing, commerce, services and tourism. They also fund, alone or in joint ventures with other banks, large infrastructure projects, such as road networks, large private and public projects, shipping, tourism, hotels and tourism infrastructure, energy, health, telecommunications, construction and new technologies.

Bank has also offered small- and medium-sized enterprises their know-how and expertise offering funding and every available support to their projects.

Banks also fund joint projects between public and private sector companies, supporting the Greek state, public-owned enterprises and municipal authorities.

Greek banks has also established a long-time cooperation with ETEAN -a Greek investment fund- and the European Investment Fund (EIF), promoting funding and guarantee products and tools such as: Entrepreneurship Fund Restart (TEPIX), Island Entrepreneurship, Jeremie, COSME, Horizon 2020.

Greek banks also cooperated with the European Investment Bank and have signed the first contracts worth 400 million euro in the framework of a credit line by EIB "Loans for SMEs" worth 1.0 billion euros.

Greek banks also secured 330 million euros to fund strategic investments of high economic and social added value projects included in the framework of an Investment Fund for Europe, known as Juncker Plan.

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