Greece completes early repayment of bailout loans to IMF

·

Greece has repaid its debts to the International Monetary Fund (IMF) two years ahead of schedule, the Greek Ministry of Finance announced on Monday.

Greece’s Finance Minister, Christos Staikouras, hailed the early payment as “a very positive development” that would mean significant savings in debt servicing costs totalling 230 million euros.

“This closes a chapter that opened in May 2010, when Greece appealed to the fund for financial support,” Staikouras said in his statement.

READ MORE: Greece on track to repay last of IMF loans by end of March.

“We are continuing, fully aware of the great difficulties and the new external challenges… to make Greece comprehensively stronger, with its economy more productive, extroverted and more socially just.”

Greece’s European Union bailout lenders gave the formal go-ahead last week for the early repayment of the outstanding loans worth 1.86 billion euros.

READ MORE: European Union approves early repayment plan of Greek bailout loans to IMF.

Between 2010 and 2018, three successive bailouts totalling some 260 billion euros prevented Greece from going bankrupt and exiting the shared euro currency.

Despite exiting the bailout program in 2018, Greece remains under an enhanced surveillance program created by European lenders to monitor spending, an arrangement due to end later this year.

Source: AP News.

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Fans and members rally behind Labi Haliti as Sydney Olympic climbs the ladder

Sydney Olympic FC’s commanding 3-0 win over NWS Spirit FC has not only kept the team’s momentum alive in the 2025 season.

How families celebrated a rare unified Easter

For the first time in eight years, all branches of Christianity—Catholic, Protestant, and Orthodox—celebrated Easter on the same weekend.

George Mastrocostas pushes ahead with project amid Gold Coast housing surge

As the Gold Coast races to meet a looming population milestone of one million residents by 2045, George Mastrocostas is pushing ahead.

Tina Stefanou explores Melbourne’s urban fringe in immersive ACCA exhibition

Artist Tina Stefanou’s latest exhibition, You Can’t See Speed, now showing at the Australian Centre for Contemporary Art (ACCA).

Sydney man Zacharias Giatras granted bail after Rockdale crash leaves man critical

Zacharias Giatras, a 19-year-old plumbing apprentice, has been granted bail after being charged over a serious crash in Sydney’s south.

You May Also Like

10th Greek Street Fair in Burwood set to be bigger than ever

Greek dancing performances, live Greek music, food trucks and more at the annual Greek Street Fair Burwood on Sunday, from 11am to 5pm.

George Alex and his son to face Supreme Court trial over alleged tax fraud syndicate

George Alex and his son Arthur have been committed to stand trial in the Supreme Court over an alleged tax fraud syndicate.

Macquarie Asset Management acquires 50 per cent of Enel Green Hellas

Macquarie Asset Management has acquired a 50 per cent stake in Enel Green Power Hellas for a total equity consideration of €250 million.