Greece plans to pay off more of its bailout-related debt ahead of schedule, with another 5.3 billion euros in loans slotted to be repaid on December 15, according to reports at Reuters.
The loans were set to mature in 2024 and 2025 and are part of the 260 billion euros in loans distributed to Greece by the International Monetary Fund (IMF) and eurozone during the country’s ten year debt crisis that began in 2009.
Greece paid off the IMF, which had loaned it 28 billion euros between 2010 and 2014, two years ahead of schedule and also repaid another 2.7 billion euros that went back to eurozone partners. Sources told Reuters that the country hopes to pay off even more loans early in 2024.
Considering the planned payment of this year, Greece will have repaid 13 billion of the 53 billion Greek Loan Facility, due to mature in 2041. The country has been able to do so on account of higher-than-expected tax revenues, growth which is double the eurozone average, and primary surpluses that have been boosted by tourism and investments.