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Greece to Repay €5.29 Billion Early Under First Bailout Loans - GreekReporter.com
- Greece will repay €5.29 billion early on GLF loans, with approval from ESM and EFSF boards.
- Debt relief goals drive Greece, with debt around €403.2 billion and a 145.9% GDP ratio in 2025.
- The repayment aims to improve debt structure and reinforce market confidence, says ESM and EFSF officials.
- Funds for the repayment come from a special cash reserve set up at the end of Greece’s adjustment program.
- The GLF was part of a 2010 bailout that included €52.9 billion in loans from Eurozone countries.
- Greece completed IMF loan repayments two years early in 2022.
- Finance Minister Pierrakakis outlined next year’s budget amid the debt reduction effort.
- Greece aims to reduce debt-to-GDP to around 138.2% in 2026 and potentially below 120% by 2029.
- Greece’s public debt levels remain the highest in the Eurozone, with ongoing reform efforts.
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