Greece is considering speeding up the early repayment of its remaining
Greece is considering speeding up the early repayment of its remaining bailout-era loans, Finance Minister Kyriakos Pierrakakis said in an interview with Bloomberg TV on Friday, pointing to stronger growth, persistent budget surpluses and a rapid drop in the country’s debt ratio.
Pierrakakis reaffirmed Greece’s plan to repay, 10 years ahead of schedule, the loans issued under the country’s first 2010 bailout package. The government had previously set 2031 as the target date for the early payoff, but the minister said Athens may try to complete the move even sooner.
“We will be exploring frontloading that, if it’s possible,” he said.
Greece’s public debt peaked at 210% of GDP in 2020, during the pandemic. According to Pierrakakis, the ratio is projected to fall to 137.6% in 2026, with the goal of bringing it below 120% before the decade is out. He described the country’s pace of debt reduction as the “most rapid de-escalation” in Europe.
The minister emphasized that Greece intends to remain “quite aggressive” in cutting its debt, noting that high public debt carries social costs. He stressed that the government does not want to “repeat the mistake of the previous generation” by passing the burden to the
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