Early May crucial period in Athens’ effort to repay IMF loans early

Greek Minister Euclid Tsakalotos met with the managing director of the IMF Christine Lagarde to discuss what Athens describes as a “win-win repayment”

Greece is expected to top the agenda at the next Eurogroup meeting on 14 May and the preparatory Euro Working Group that will precede it on 2 May.

The meetings are set to discuss Athens’ request of an early repayment of its International Monetary Fund (IMF) bailout loans, worth over 3.5 billion euros. Reuters reported this week that the European Stability Mechanism (ESM) would have to be repaid the same amount, under Greece’s bailout terms, but is likely to waive this right.

On Monday, Greek Prime Minister Alexis Tsipras heralded the early repayment of part of the IMF bailout loans to Greece. “It is a historic development. It sets a new framework for the Greek economy, because every economic indicator is performing”, he said, adding that Greek 10-year bond yields are at a historic low.

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