Greece has taken another step in easing its debt burden, repaying €5.3 billion in bailout loans years ahead of schedule, officials said on Monday.
The repayment relates to the country’s first international rescue package in 2010 and is expected to deliver long-term savings of around €1.6 billion in interest by 2041.
It will also accelerate Greece’s debt reduction, with public debt projected to fall below 120 per cent of GDP by 2029.
The funds were repaid via the European Commission to Greece’s euro zone partners.
Although Greece remains the most indebted country in the euro area, the early repayment underscores the steady recovery of its economy following the prolonged debt crisis of 2009–2018, which plunged the country into austerity and brought it to the brink of exiting the euro.
Source: Reuters
