The Minister of National Economy and Finance, Kyriakos Pierakakis, told Reuters today that Greece will proceed next month with an early repayment of €6.9 billion of debt, related to the first bailout loans it received from European countries.

“Through Greece’s early repayment programme, public debt is expected to decline further, close to 130% of GDP by 2027,” Mr. Pierakakis said.

The Minister praised the team of the Public Debt Management Agency (PDMA) for its work in reducing debt, describing them as the “silent heroes” of Greece’s recovery.

It is recalled that Greece correctly calculated the price at which it repurchased GDP-linked warrants last year, as ruled by a London court on Wednesday, resolving a long-standing dispute over the government’s debt buyback.

According to a Bloomberg report, the Greek government asked the court to issue a ruling on the matter after the trustee Wilmington Trust and a group of creditors argued that the price paid to them was below market value, harming investors.

A judge of the UK High Court ruled that the Public Debt Management Agency (PDMA) correctly calculated the relevant prices using the method set out in the debt issuance documentation.