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

Literary memorial in Sydney honours the legacy of esteemed scholar Dr George Kanarakis

A literary memorial in honour of Greek academic and internationally renowned linguist of Australia, Dr George Kanarakis, was held on Tuesday.

Memorial service to be held in Sydney to honour the life of Chris Felemegas

A memorial service will be held in Sydney on Sunday, October 12, to honour the life of Chris Felemegas, a figure remembered for his warmth.

Greek Deputy Foreign Minister Ioannis Loverdos meets Archbishop Makarios in Sydney

Greek Deputy Minister of Foreign Affairs for Hellenism Abroad, Ioannis Loverdos, met with Archbishop Makarios of Australia on Tuesday.

Burra vintage shop faces criticism for $5 entry fee

The owner of Goosey Goosey Gander in Burra, Russell Skinner, has announced that the shop’s $5 entry fee will soon be donated.

Greek government donates €10,000 to support Greek Studies at University of Sydney

Greek Deputy Foreign Minister Ioannis Loverdos announced a €10,000 donation to the University of Sydney’s Department of Modern Greek Studies

You May Also Like

Olive oil: ‘King of Foods’ for tourists and locals in Crete

Papaioannou evokes a welcoming picture of the “olive groves dotting the landscape,” where tourists can explore olive harvesting techniques

Vasili’s Taxidi: Some Shops are Hidden Gems Like Botany Timber and Hardware

One of the most admirable surviving small shops and businesses is undoubtedly Botany Timber and Hardware which is run by Michalis Konitsas

Government spokesman Petsas: Migration influx has subsided, both on land and sea

Government spokesman Stelios Petsas on Saturday stressed Prime Minister Kyriakos Mitsotakis' firm support for the work of police authorities, "whose morals we rely on,...