Wednesday, May 29

Greek Government Wants to Pay Off Last Part of IMF Debt by the End of March

The Greek government plans to repay the last instalment of debt with the International Monetary Fund (IMF) by the end of March.

 

This would concern an outstanding loan of approximately 1.8 billion euros, the Greek public broadcaster ERT reported on Friday, quoting the Ministry of Finance. The IMF has financially supported Greece with more than €32 billion since 2010.

The debt repayment is considered a further step out of the severe financial crisis that gripped the southern European country in 2009.

Since August 2018, the country has been on its own feet again and can also borrow money again. As a result, ten-year government bond yields are currently at around 2%. At the height of the financial crisis in 2012, it was more than 35 percent.

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