The Eurogroup approved the early repayment of IMF loans from Greece, as well as part of the bilateral GLF loans with European countries, as stated in a relevant statement by the Minister of Finance Christos Staikouras.
Greece thus repays its entire debt to the Fund.
In detail, the Minister of Finance notes:
“Today, in the midst of increased global uncertainty and insecurity, Greece has taken an important step towards strengthening and self-confidence.
The Eurozone Finance Ministers approved the early repayment of the balance of loans that our country had received from the IMF, as well as the early repayment of part of Greece’s bilateral loans with European Union member states.
These – many benefits for our country – initiatives were launched at the official request of the Greek Ministry of Finance, on December 6, 2021.
In the meantime, we have worked methodically and consistently, in collaboration with European and international institutions and partners.
With this, the third, discount of the IMF, Greece repays – two years before its expiration – the entire debt to the Fund, totaling 8.2 billion euros.
Discount that the New Democracy Government started in November 2019, continued in March 2021 and completes – in less than 2.5 years – the spring of 2022.
This is a very positive development, with high symbolic value and substantial benefit for our country.
A development that certifies the progress and dynamics of the Greek economy, highlights the auspicious growth prospects, strengthens the country’s credibility, saves resources for the benefit of society, and has a positive effect on public debt and our economy.
In particular, with this new repayment, interest rate and foreign exchange risk is reduced, refinancing risk is reduced, key indicators of public debt sustainability are improved, resources, amounting to 56 million euros from the payment of interest, are saved.
Thus, the total benefit of the three IMF discounts is set at 230 million euros.
Benefit utilized by the Government to support households and businesses, especially our most vulnerable compatriots.
Today, an important development, is the fruit of the responsible, effective and reforming economic policy of the Government, in an environment of multiple external crises and demanding circumstances in recent years.
“A policy that has allowed the country to recover strongly, to develop sustainably and fairly, to be strengthened in many ways, creating new jobs and strengthening social cohesion”, concludes Mr. Staikouras.
Source: Capital
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