Greece to Repay €5.29 Billion Early Under First Bailout Loans
Greece will make an early repayment of €5.29 billion on loans from the Greek Loan Facility (GLF), as approved by the European Stability Mechanism (ESM) and the European Financial Stability Fund (EFSF). This move is part of the country’s effort to reduce its substantial public debt, estimated to be around €403.2 billion, or 145.9% of GDP, by 2025. The repayment is seen as a positive signal, improving Greece’s debt structure and reflecting its improved fiscal position. The funds for the early repayment will come from a special cash reserve account created at the end of Greece’s adjustment program.
John Q. Hosedrinker