On Friday, December 13, the early repayment of 8 billion euro of the memorandum loans

On Friday (13.12.2024) Greece will pay early the approximately 8 billion euros from the international ones loans which received the period of memoranda (GLF).

The green light was given just last week by the boards of directors of the ESM and the EFSF as they agreed to waive the obligation to repay the part of the debt held by the two organizations which is linked to an early repayment of bilateral loans of the memorandum period.

It was preceded by the official request of the Greek government, which proposed an early repayment of the loans originally due in 2026-2028, amounting to 7.935 billion. euro.

According to the ESM and EFSF loan agreements, when loans to other creditors are repaid early a proportionate amount of the financial assistance from the ESM and EFSF facilities becomes immediately due and payable. With the waiver of the two organizations from their right, the way was opened for Greece to pay the installment of GLF loans, totaling 52.9 billion, early. euro.

It is recalled that Greece completed the repayment of its loans from the IMF two years ahead of schedule in 2022 and made the first early repayment of GLF loans in 2023.