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GREECE

From an interview in Naftemporiki with Greek FinMin Staikouras (via Google Translate):

  • "Our intention is to proceed with the early repayment of the balance of loans to the IMF, amounting to about 1.8 billion euros, as well as a significant amount, amounting to about 5.3 billion euros, maturing in 2022 and 2023, of existing bilateral loans to Eurozone countries, concluded in 2010, under the first fiscal adjustment program."
  • "Our efforts for these early repayments have started, at a technical level, about three months ago."
  • "Both Greece and the European partners and institutions are working methodically, so that these two moves, which were received with very positive comments from partners, markets and rating agencies, receive the required approvals and be completed as soon as possible."
  • Note that Greece made its last overpayment to the IMF in March and back in June, we asked the question of whether Greece would be able to complete its overpayments to the IMF in 2021. (See those bullets here and here).
  • Greece has raised E14.0bln in 2021, surpassing the E12bln estimated needs for its higher funding scenario (which included some debt overpayments to official sources).
  • The full Naftemporiki story is available here.
MNI London Bureau | +44 203-865-3820 | tim.davis@marketnews.com
MNI London Bureau | +44 203-865-3820 | tim.davis@marketnews.com

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