BUSINESS

IMF says early loan repayment is up to Athens

TAGS: Finance

The early repayment of Greece’s loans from the International Monetary Fund is a decision the Greek authorities will make, said IMF spokesman Gerry Rice on Thursday, while noting that this would require the consent of the country’s other official creditors.

The government is known to be planning to pay off its debts to the IMF before they are due, mainly for political purposes. Rice said such a development would lessen Greece’s overall borrowing costs.

The IMF spokesman added that this country “is in a better course” regarding the sustainability of its economy and growth, stressing that this is thanks to the reforms implemented to date.

Asked whether the weak payment discipline the IMF recorded in its latest report on Greece is a cultural feature or the heritage of the crisis, Rice chose only to praise the efforts by the Greek people and the country’s authorities in tackling the crisis.
 

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