Greece will repay all of its debt to the International Monetary Fund (IMF) by the end of April 2022.
The competent authorities of the euro zone have given the green light to close the file, we learned on Monday.
In 2021, Greece had planned to bring forward the repayment of its public debt to the IMF in order to improve its image on the borrowing markets.
Thanks to the agreement of the European Stability Mechanism (ESM) and the European Financial Stability Fund (EFSF), the country “will reimburse by the end of April 1.850 billion euros”, the remainder of its debt to the IMF.
Better omens from the beginning of the year
After ten years of an unprecedented financial crisis (2009-2018), Greece still has the highest public debt ratio in the euro zone.
According to government forecasts, it should increase to 189.6% of GDP in 2022, compared to 197.1% in 2021 and 206.3% in 2020.
Rating agencies, including Fitch, upgraded Greece's outlook from stable to positive in early 2022 ahead of the war in Ukraine.
Fitch particularly mentioned the favorable combination of “stronger-than-expected economic growth […] and a reduction in the public deficit”.
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