The finance ministry on Friday announced an early repayment of Greek Loan Facility (GLF) loans totaling 5.29 billion euros. The loans were set to mature in 2024 and 2025.
The GLF is the first support program (institutional bailout) extended by Eurozone member-states and the IMF for Greece in May 2010. The former had contributed 52.9 billion euros, with the International Monetary Fund (IMF) disbursing 20.1 billion euros.
The first such early repayment of GLF loans came in 2022 and involved loans owed to the IMF.
“The early repayment of loans certifies the upward course of the Greek economy, and contributes to creating even more positive prospects for coming years,” National Economy and Finance Minister Kostis Hatzidakis said in a statement accompanying the news.
“What’s also important is that Greece’s debt has an improved profile in the medium term, while combined with the restoration of the investment grade status means a further improvement of borrowing conditions extended by international markets to the Greek state from international markets,” he added.