Greece announces new early repayment of IMF loans

29 December 2020
351 Views

Greek Finance ministry has launched procedures for the early repayment of a chunk worth 3.6 billion euros of a loan received by the International Monetary Fund.

“The Ministry of Finance, in the framework of the loan and management program of the public debt portfolio for 2021, has started the process for a new early repayment, in the near future, amounting to approximately 3.6 billion euros, from the existing loans it has the country from the International Monetary Fund (IMF).

The repayment will be made in consultation and fully applying the terms and contractual obligations of the Greek State to its creditors, keeping the fully the terms and contractual obligations of the Greek state towards its creditors and preserving the framework of supervision and the active participation of all interested parties. This repayment will cover the part of loans with maturities within the years 2021 and 2022. It is the second that takes place by the current government, within a year, thus repaying 6.3 billion euros out of a total of about 8 billion. euro of borrowing from the IMF until the summer of 2019, ie about 80% of it.

This new early repayment is expected to be perceived as a very positive event regarding the debt of the Greek State, both by the credit rating agencies and by the international investment community.

The government and the Ministry of Finance, with the valuable contribution of the Public Debt Management Organization (ODDIH), despite the extremely adverse conditions caused by the pandemic, taking each time, with precision and stability, steps that gradually lead to normalcy, continue consistently the implementation of a balanced economic policy, which on the one hand provides timely necessary assistance to all those affected, showing social solidarity, and on the other hand leads to a continuous upgrade of the country’s prestige,” the Finance Minister said in a statement.

You may be interested

Coronavirus Greece: 1,607 new cases, 847 intubated, 78 deaths
GREECE
shares23 views
GREECE
shares23 views

Coronavirus Greece: 1,607 new cases, 847 intubated, 78 deaths

Panos - Apr 20, 2021

Greece announced that the new laboratory-confirmed cases of coronavirus recorded in the last 24 hours are 1,607, of which 7…

The National Interest: Why is Cyprus still divided? – Analysis
DEFENCE
shares238 views
DEFENCE
shares238 views

The National Interest: Why is Cyprus still divided? – Analysis

Panos - Apr 19, 2021

The division of Cyprus is fast approaching the half-century mark. In fact, that division has now lasted longer than that…

Research suggests ancient Greeks might have sailed to Canada
GREECE
shares25 views
GREECE
shares25 views

Research suggests ancient Greeks might have sailed to Canada

Panos - Apr 19, 2021

The ancient Greeks could have reached Canada in 56 AD – almost a millennium before the Vikings. This is according…

Leave a Comment

Your email address will not be published.