Athens plans early repayment of iwf loans

athens plans early repayment of iwf loans

This was announced by the greek finance minister euklid tsakalotos with. "The debt to the IMF is too expensive. Just over five percent and we can now borrow money (on the money market) for about 3.4 percent," tsakalotos told radio station rthess 94.5 from thessaloniki.

IMF loans of around four billion euros are involved. "If you repay early, you gain money and then you can lower taxes," the finance minister added.

Greece still has to repay 9.5 billion euros to the IMF by 2024. The IMF had contributed nearly 32 billion euros to the greek bailout program since 2010. The largest part has already been repaid by the greeks.

Greece’s last austerity and reform program ended in august 2018. Athens has since been trying to stand on its own two feet again and borrow money from the capital market itself. On 5. March, the country was able to place a ten-year bond in the amount of 2.5 billion euros for the first time since 2010, albeit at a relatively high interest rate of 3.9 percent.


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