Short-term debt relief already paying off for Greece
Short-term debt relief measures implemented last January by the European Stability Mechanism (ESM) have already generated beneficial effects for Greece’s debt load, as relevant figures for outstanding loans and bonds revealed.
Figures show an easing of amortization between 2032 and 2045 and an extension of maturities between 2047 and 2057. Indicative is the fact that after the ESM measures were implemented no calendar year records debt servicing exceeding nine billion euros.
Before the intervention, the years 2032, 2034 and 2036 showed obligation exceeding 10 billion euros annually, while in 2037, 2038, 2039 and 2043, expired maturities on bonds and loans hovered between 11 and 14 billion euros.
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