Greece’s Public Debt Management Agency (PDMA) will put forth an official request to pay off several installments of its debt ahead of schedule, at the upcoming Euro Working Group (EWG) this September.

In detail, Greece will request to make early payments of three installments of its bilateral loans, in the amount of 7.925 billion, as part of the first memorandum, which covers the period of 2026-2028.

To facilitate the transaction, Greece seeks to use 5 billion euros from its cash buffer account of 15.69 billion, from the European Stability Mechanism (ESM).

Greece was required to create the buffer account as part of the greater bailout scheme for the country, in order to provide a cushion for future debt payments.

The news comes as no surprise as Greece has previously expressed its interest in repaying its loans early, in an effort to reduce steep borrowing costs.