ECONOMY

Staikouras announces early repayment of IMF dues

staikouras-announces-early-repayment-of-imf-dues

The Finance Ministry has launched procedures for the early repayment of a 3.6-billion-euro chunk of a loan received from the International Monetary Fund.

The repayment in question will cover loans ending in 2021 and 2022, Minister Christos Staikouras said on Monday.

It will be the second early repayment of IMF loans within a year, totaling €6.3 billion, of a total of around €8 billion received from the IMF, or around 80%.

“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, from the existing loans the country has from the International Monetary Fund," Staikouras said.

"The repayment will be made in consultation and fully applying the terms and contractual obligations of the Greek state to its creditors, keeping fully the terms and contractual obligations of the Greek state toward its creditors and preserving the framework of supervision and the active participation of all interested parties," he added.

This repayment will cover the part of loans with maturities within the years 2021 and 2022. It is the second that is taking place under the current government, within a year, thus repaying €6.3 billion out of a total of about €8 billion of borrowing from the IMF until the summer of 2019 – i.e. about 80% of it.