ECONOMY

Repayment request tabled for IMF loans of 3.7 billion

repayment-request-tabled-for-imf-loans-of-3-7-billion

The government on Monday submitted its application for the early repayment of a costly section of Greece’s loans from the International Monetary Fund, as agreed last month between Finance Minister Euclid Tsakalotos and IMF Managing Director Christine Lagarde.

A source in Athens said the application concerns loans maturing this year and next, adding up to 3.6-3.7 billion euros, with interest of 5.13 percent. If the application is accepted, another 5.5 billion euros will remain due, to be paid by June 2024.

That amount suffices to maintain IMF surveillance of the Greek economy, with the issue of two reports per year, which is what certain member-states – particularly Germany – require to argue at home that Greece remains under IMF monitoring, so their loans are not in danger.

Opposition leader Kyriakos Mitsotakis told Alpha TV in an interview on Monday night that his party is in favor of the early repayment.