Bloomberg News

Greek Debt May Drop to 116% of GDP by 2020, Reuters Reports

March 12, 2012

Greece’s sovereign debt may fall to as low as 116 percent of the nation’s gross domestic product by 2020 if a larger number of private sector institutions participate in a debt swap, Reuters reported, citing two unidentified European Union officials.

That level of indebtedness would be below the 120 percent the International Monetary Fund views as sustainable and compares with a target of 121.5 percent under the current participation rate in the debt swap of 96 percent, the newswire reported.

To contact the reporter on this story: Cornelius Rahn in Frankfurt at crahn2@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net


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