ESM allows Greece early payment of expensive IMF loans
- Written by E.Tsiliopoulos
Featured
The euro zone’s rescue fund, the European Stability Mechanism (ESM), agreed on Monday to allow Greece to pay back early part of the loans to the International Monetary Fund worth around 2.7 billion euros ($3.0 billion), it said in a statement.
The move allows Athens to reduce its debt servicing costs because IMF loans are more expensive than its debt to EU institutions.
The ESM has accepted to allow Greece to pay back the IMF without a proportional early reimbursement of its loans to EU authorities, which would have been required if no waiver was granted.($1 = 0.9015 euros)
source reuters
Tagged under
Related items
-
Greece moves to become Southeast Europe’s first carbon storage hub
-
Giannis Antetokounmpo says Heat provide best route to another NBA title
-
Mitsotakis says under-15s should be banned from major social media platforms, warns of AI's "extreme" risks
-
Marco Rubio made a reference to the murder of Vagia Nestora - "She was executed because her daughter dared to run for public office"
-
Greek banks have liquidity ready to fuel economic growth
Latest from E.Tsiliopoulos
- Greece moves to become Southeast Europe’s first carbon storage hub
- Giannis Antetokounmpo says Heat provide best route to another NBA title
- Mitsotakis says under-15s should be banned from major social media platforms, warns of AI's "extreme" risks
- Marco Rubio made a reference to the murder of Vagia Nestora - "She was executed because her daughter dared to run for public office"
- Greek banks have liquidity ready to fuel economic growth
