Greece will need approval from the European bailout lenders in order to repay its IMF loans early, but top officials in the agency and the European Commission are said to have signalled backing for the idea.
The left-wing government in Greece - facing national municipal and European elections this year - is planning to boost funding for social programs with the money eventually saved from the cheaper loan repayment, Mr Tzanakopoulos said. "The IMF loans are expensive, with an interest rate of 5.1% - so that means we can lower debt servicing costs and we will have an increase in the fiscal space to help vulnerable groups in society," he said on Greek radio.
According to Reuters, Greece plans to file a request this week seeking the eurozone bailout fund's consent to the early repayment of expensive loans owed to the International Monetary Fund.The country emerged from its third international bailout program last August and has seen significant improvements in an economy battered by years of recession and budget cuts.
Improvements in Greece's bond yields have been accompanied by a boost to the stock market, which on Monday closed up 26.1% on the year.
It’s amazing how you can never make all people happy, no matter what the circumstance, they seem to be able to draw a negative from a positive perspective, energyvampires welldinegreece
Anastasios_Vou Greeks aren't lazy, that's just a nasty cultural slur. They work hard and they have got shit done. Brexiteers and others can shut up with their 'what about Greece' Now?
Good for the Greeks ...but shit still awaits them around the corner
charliesaward1 see ur mob at it again aaaaahhh
Yes!!!!!!!! MUDDLAW
Sounds as if they are simply borrowing from elsewhere more cheaply. Greece remains a basket case with a population of tax evaders and huge debts just like the rest of the western world.
That's great, well done Greece Best wishes
Pleased to hear that, the Greeks have suffered enough and still continue to get infested by “assylum seekers”
Let's put it very simply ,Greece was raped by the ECB and the IMF overall the so called Troika. The country became an experiment hub for the bankers and pro austerity neo liberals.
Where the Eff did Greece find 10 billion? Oh yeah, the British, German & French taxpayers. Looking forward to Halloween more than Christmas this year. LeaveEU NoDeal
Amazing what happens when you stop smashing plates
Kudos to the Greeks for stepping up to the challenge.
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