Greece requests OK from ESM, EFSF to pay off 3.6bln€ in IMF loans before their maturity

Tuesday, 09 February 2021 22:02
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Athens has sent letters to the European Stability Mechanism (ESM) and the European Financial Stability Facility (EFSF) requesting to pay off portion of 3.1 billion euros in loans extended by the IMF before their maturation.

The letters were signed by Greek FinMin Christos Staikouras.

The loans mature in 2021 and 2022.

Greece must cover a 1.8-billion-euro IMF loan that matures this year, with 300 million having already been pre-paid, with another 200 million euros set for payment in March. The remainder for the year, along with 1.8 billion euros for 2022, means an early payment of 3.1 billion euros in outstanding IMF loans.

The Mitsotakis government has stated that it wants to improve the country's borrowing profile, while also taking advantage of historic low yields for sovereign borrowing.

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