EU approves Greece's repayment of IMF loans
Topics: GREECE IMF LOANS
The move, which concerns loans worth around 2.7 billion euros ($3.0 billion), allows Athens to reduce its debt-servicing costs, because IMF loans carry higher interest than Greece would now pay on the market.
The decision followed a Greek government request to the ESM in September to repay some of its loans to the IMF, which were worth about 9 billion euros.
“Greece’s early partial repayment to the IMF will be beneficial for both Greece and the ESM,” said the fund’s chief, Klaus Regling. ■