The Cyprus Economic Society will host a discussion event in Nicosia on April 27, featuring an International Monetary Fund official addressing Europe’s fiscal challenges.

The event, titled “How Can Europe Pay for Things it Cannot Afford?”, will take place between 18:00 and 19:30.

It will be held at the Central Bank of Cyprus Auditorium, located at 80 Kennedy Avenue, Nicosia 1076.

The speaker will be Alex Pienkowski, Mission Chief for Cyprus at the International Monetary Fund.

Those interested in attending have been invited to confirm their participation by emailing the organisers.

“At a time when growth is mediocre and the external environment has become more hostile, European governments are being asked to do more than at any point in recent decades,” the organisers explained.

They added that “defence spending must rise decisively, while public investment is required to support the energy transition, strengthen infrastructure and unlock innovation”.

They further pointed out that “population ageing is also driving up social spending across the continent”.

“These demands are not optional they are central to Europe’s economic resilience and strategic autonomy and they are large,” the organisers said.

They stressed that “Europe must meet these challenges from a position of limited fiscal space, with already high public debt, rising interest costs and years of subdued growth constraining many governments’ ability to respond”.

“The question is not whether Europe can afford these priorities but how it can finance them without undermining fiscal sustainability or future growth,” the organisers said.

The presentation will evaluate policy options aimed at lifting productivity, boosting growth and addressing the fiscal challenge.

These options will include structural reforms, fiscal consolidation and, for some countries, a potential reconsideration of the scope of government itself.