ESM – EFSF approves early repayment of Greek debt amounting to 7.935 billion euros

Thanks to the waivers granted today by the ESM and the EFSF, Greece will not have to make an early repayment to either institution.

ESM/EFSF loans in relation to the early repayment to the lenders of the Hellenic Loan Facility , EMS and EFSF announced on Thursday. According to the EMS and EFSF loan agreements with Greece, in the event of early repayment to other creditors, a corresponding amount of the financial assistance provided under the EMS and EFSF facilities becomes immediately due and payable. Thanks to the waivers granted today by the ESM and the EFSF, Greece will not have to make an early repayment to either institution.

“Greece continues to make remarkable strides in its economic development. It is one of the fastest growing economies in the EU and has returned to investment grade. The planned early repayment of GLF loans is another positive signal to financial markets and demonstrates the improvement of Greece’s fiscal position. The repayment will generate some savings for the Greek budget and also strengthen its liquidity management. These are notable developments for the ESM and EFSF, which hold around 54% of Greece’s public debt. Our interests are aligned and we will continue to support the Greek authorities in their efforts to strengthen long-term growth and debt sustainability,” ESM Managing Director and EFSF CEO Pierre Gramegna said in the same statement.

According to the same announcement, the request for early repayment of debt, originally due in the period 2026-2028, concerns an amount of 7.935 billion euros.

Πηγή: pagenews.gr