Greece on Monday repaid its European peers €6.9 billion from its first bailout loans earlier than planned, two sources told Reuters.
The loans were part of the Greek Loan Facility agreed in 2010, under which eurozone governments provided about €53 billion in bilateral support at the height of the country’s debt crisis. Greece has yet to repay around €20 billion.
Athens said last year that it would pay off loans granted under the Greek Loan Facility, the first of three in crisis bailouts, by 2031, 10 years before they expire, in annual instalments.
Greece’s debt is estimated at 136.8% of annual output this year, below Italy’s for the first time in decades.
Greece raised €3 billion from the reopening of its 10-year bond last week, covering 95% of its borrowing needs this year. [Reuters]
