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Greece has a big move, Greece requires early repayment of IMF loans

  • Categories:Company News
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  • Time of issue:2019-09-25 19:39

Greece has a big move, Greece requires early repayment of IMF loans

Greek Prime Minister Mizotakis (left), Greek Finance Minister Christos·Stacylus (right)

According to the Associated Press, on September 11th, Greek local time, the Greek Finance Minister and the Greek Prime Minister met in Athens. The Greek Ministry of Finance officially applied to the European Stability Mechanism and the European Financial Stability Instrument on September 16 to demand early repayment of the International Monetary Fund. Part of the rescue loan provided by the organization (IMF) to the country.

The Greek Ministry of Finance issued a statement on the same day, saying that Finance Minister Christopher Sticolus has sent a letter to the two major European rescue mechanisms, saying that Greece plans to repay 2.9 billion euros in advance.

The Greek Ministry of Finance said that this move will help strengthen Greece's credibility, boost public confidence in the Greek economy, and will save tens of millions of euros in interest payments. In addition, it can improve the sustainability of government debt and have a positive impact on Greece's credit rating.

Since Greece’s new Prime Minister Mizutakis came to power, Greece has introduced a number of policies to stimulate economic development. For example, in August this year, the Greek government announced the complete abolition of capital controls, and resumed normal capital flows in early September; the Greek government announced plans in September this year. Launched a 2 million European Greek citizenship policy.

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