The European Stability Mechanism (ESM) has approved early repayment of part of the IMF loans, while at the same time, it will waive Greece’s obligation to simultaneously repay the same proportion of outstanding loans from the ESM, which amounted to 52.2 billion euros.

”Greece’s early partial repayment to the IMF will be beneficial for both Greece and the ESM. It will improve Greece’s debt sustainability and will be positively perceived by markets”, said ESM chief Klaus Regling.

“The early repayment of a portion of Greece’s IMF loans enhances the country’s credibility, improves the sustainability of the public debt which is expected to have a positive impact on boosting its credibility in the markets”, said Finance Minister Christos Staikouras.