Greece is going to proceed with an early repayment of an another 5 billion euros in 2025, which it had borrowed in the context of the first memorandum, Prime Minister Kyriakos Mitsotakis said during an event of the Bloomberg news agency entitled “The New Era of Greek Banking”, held at the Grande Bretagne hotel.
The specific loans are scheduled to mature between 2033 and 2042, the prime minister said.
He underlined that the new early repayment, following the early repayment of loans amounting to 8 billion euros from the first memorandum expected to be concluded in December, sends a clear message to the markets about Greece’s commitment to fiscal stability and reducing public debt.
“We have been ruthlessly focused on fiscal discipline,” he stressed and added: “It is an indication of the confidence we have in our public finances.”
As naftemporiki.gr wrote earlier, it is now a matter of time before the European Stability Mechanism (ESM) approves the utilization of the “hard core” of cash reserves, amounting to 15.7 billion euros, which is reserved in a special account of the Bank of Greece and comes mainly from the ESM loan to our country.
According to credible sources, the relevant approval is expected on December 2-3, paving the way for the utilization of this amount, not only this year but also in the next two years (2025-2026) for debt repayment.
