FinMin in Washington: Greece plans to repay memorandum loans ten years a head of deadline

Greece is planning to pay back the first memorandum's loans earlier than the deadline, National Economy & Finance Minister Kyriakos Pierrakakis asserted on Wednesday, speaking to national broadcaster ERT TV from Washington DC, where he is attending the World Bank Group (WBG)/International Monetary Fund (IMF) meetings.

"We have already repaid IMF's loans, three years ago. We must also complete the repayment of the first memorandum's loans," he noted. The minister said that Greece wished to repay these 10 years sooner, in 2031 instead of the agreed 2041.

By deescalating the debt quickly, "the primary surpluses created by us will be able to reach society faster and better," he said. Asked to comment on the improvement of the Greek public debt's state, Pierrakakis said, "It is already anticipated that it will deescalate much faster; that, very soon, if we continue with the same performance, we will not be the most indebted country in Europe." He added that "deescalation is rapid - as you saw in yesterday's (Tuesday's) related announcements, we are at 153%" of GDP, he said.

The WBG/IMF spring meetings are taking place in Washington from April 21 to April 26.
 

 
Μore on subscriber's page.
ANA-MPA SA. Intellectual rights and copyright are the sole property of the ANA-MPA and are allocated to the Agency's subscribers for specific uses only.
NEWS ROOM
MORE NEWS