ECONOMY

IMF proposing significant debt relief for Greece, report claims

IMF proposing significant debt relief for Greece, report claims

The International Monetary Fund has proposed to the eurozone that Greece should not have any debt repayments to make before 2040, according to a report in The Wall Street Journal.

The Fund wants Athens to be excused from paying interest and principal for the next 24 years and for its debt repayments to be spread out between 2040 and roughly 2080.

This would involve fixing the interest rate at which the eurozone lends to Greece at the current average of 1.5 percent.

The Washington-based organization reportedly believes these interventions would keep Greece’s debt repayments to below 15 percent of GDP per year, which it believes is sustainable.

Greece currently owes eurozone members and institutions just over 200 billion euros.

Economy Euro

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.

READ MORE
Greece preparing final legislation for conclusion of bailout review
ECONOMY

Greece preparing final legislation for conclusion of bailout review

Greek debt analysis shows serious concerns over its sustainability
ECONOMY

Greek debt analysis shows serious concerns over its sustainability

Germany: Greek reforms must be reviewed before any debt restructure
ECONOMY

Germany: Greek reforms must be reviewed before any debt restructure

EU’s Katainen says Greek reforms a major step forward
ECONOMY

EU’s Katainen says Greek reforms a major step forward

ECB lowers emergency bank funding for Greece
ECONOMY

ECB lowers emergency bank funding for Greece

EU’s Tusk pushes for Greek debt deal ‘very soon’
ECONOMY

EU’s Tusk pushes for Greek debt deal ‘very soon’