Greece repays last tranche of IMF bailout loans early, finance minister

ATHENS, April 4 (Xinhua) — Greece has repaid in advance the final tranche of its bailout loans from the International Monetary Fund (IMF), Greek Finance Minister Christos Staikouras announced on Monday.

“A chapter which opened in May 2010 when Greece resorted to the Fund, closes. It is a very positive development,” the minister said.

By repaying two years ahead of schedule, Greece will save 56 million euros (61.4 million U.S. dollars) in interest payments, he said.

A series of early repayments of IMF loans since 2019 have saved the country a total of 230 million euros in interest, the ministry said.

From 2010 to 2018, the country relied on loans from the IMF and the eurozone to avoid bankruptcy amidst a severe debt crisis.  (1 euro= 1.1 U.S. dollars)

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