Greece Repays IMF Bailout-Era Debt Two Years Early
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- 05 Apr 2022
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Greece repaid on Monday its bailout-era debts to the International Monetary Fund (IMF), some two years early, Finance Minister Christos Staikouras announced.
Staikouras added in a statement, “A chapter that opened in May 2010, with Greece’s recourse to the Fund for financial support, is now over.”
Commenting on the event, the minister said the completion of the payment was “a very positive relationship, a result of the effective economic policy by the current government,” which he said sent a positive message to markets for the state of Greece’s fiscal situation.
It also boosts the profile of its public debt and adds a savings of 230 million euros in total to the state budget, to the benefit of Greek society, he underlined.
Paying off the IMF debt “began, continued, and was completed by the government of New Democracy,” Staikouras noted.
At the same time, he said, the government continues, despite the great obstacles and external challenges, to move ahead “decisively and with confidence in its economic and social forces, to make Greece stronger all around, with an economy that is more productive, extroverted, and socially fairer.”
IMF repayment completed as Greece refreshes image on bond markets
Greece has been ramping up its payment schedule as it looks to refresh its image on bond markets after a decade-long financial crisis.
Athens was forced to accept several international bailouts after borrowing on international debt markets became prohibitively expensive. Read More...
