Eurogroup statement on the early repayments of IMF and GLF loans by Greece

(Source: Council of the EU and European Council)

The Eurogroup welcomes the expected early repayment by Greece of its outstanding International Monetary Fund (IMF) loan this spring and the partial prepayment of its loans under the Greek Loan Facility (GLF) at the end of this year, subject to national procedures and the relevant approval by EFSF and ESM decision-making bodies.

On 6 December, Greece informed the Eurogroup that it was considering an early repayment of the remaining amount of its outstanding IMF loan, as well as a partial prepayment of its loans under the GLF. The partial prepayment of the GLF would correspond to the principal payments due until the end of 2023 under the GLF.

Today the Eurogroup recalled the positive developments of the Greek economy, including a strong recovery from the pandemic and the policy reforms that have been implemented even in challenging circumstances, which allow Greece to envisage these repayments. We underline the importance of continued reform implementation also in the context of the Greek Recovery and Resilience Plan.

The Eurogroup stresses the positive impact that the early repayments will have on Greece’s public finances and the signal of confidence to financial markets. The Eurogroup also welcomes the participation of the ΙMF in the monitoring activities of European creditors for the remainder of the enhanced surveillance period.

Eurogroup statement on Greece of 6 December 2021 (press release, 6 December 2021)

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