Greece to repay €3.1 bln to the IMF early

The Public Debt Management Agency (PDMA) is awaiting the nod from the European Stability Mechanism (ESM) this or next month to proceed with the early repayment of another part of Greece's debt to the International Monetary Fund, thereby considerably reducing the remainder of the country's dues to the IMF.

The government's intention, according to a statement by Finance Minister Christos Staikouras in late December, had been for the country to pay off 3.6 billion euros that corresponded to the tranches due in 2021 and 2022. However, since then the state has covered other obligations due in January, so the government only had €3.2 billion available for the 2021-22 repayment period at end-January, and by end-March this will have diminished to €3.1 billion. It is to that amount that the early repayment to the IMF is expected to come, once the expected approval comes from the ESM....