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Greece wants early repayment of 2.9 billion euros to IMF

Christian Fernsby |
Greece owes a total of 8.6 billion euros in outstanding loans to the IMF but that may change sooner than exptected.

Topics: GREECE    IMF    LOAN   

Greece’s Finance Minister Christos Staikouras formally requested the European Stability Mechanism and the European Financial Stability Facility to give the green light for the early repayment of 2.9 billion euros IMF loans which carry an interest rate of 4.91%.

The move will lead to savings of some 70 million euros, “as the cost of borrowing for the 10-year bonds and the average cost of the debt servicing is close to 1.6%,” the Ministry said in a statement.

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