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Exclusive-Greece to repay last IMF loans by March, achieve primary surplus in 2023-Finance Minister -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. Christos Staikouras, the Greek Finance Minister, pauses as he speaks to Reuters in his Athens Finance Ministry office on December 17, 2019. Picture taken December 17, 2019. REUTERS/Costas Baltas/File Photo

ATHENS (Reuters – Greece will repay all tranches of the bailout loans owed by the International Monetary Fund before March 31st, two years early, according to Christos Steikouras, Finance Minister.

“Greece has submitted an official request to repay the entire outstanding IMF loan balance. He said that the relevant process has already been initiated and will be complete by March’s end.

Since exiting the third bailout, 2018, the country has relied exclusively on the bond market for all its funding needs. It received bailout loans totalling more than 265 billion euro from the European Union during the decade-long financial crisis.

Staikouras stated that, despite increased spending to combat the COVID-19 pandemic’s impact, Greece would return to a primary surplus in 2023, just as its lenders promised.

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