Greece
Economy
Greece Repays Expensive IMF Loans Early
Greece has completed the early repayment of the high-interest part of an outstanding International Monetary Fund loan worth 2.7 billion euros ($2.9 billion) on Monday, the Finance Ministry announced.
The action had received the required approval from European bailout lenders...
Economy
European Stability Mechanism Approves Athens' Request for Early Repayment of IMF Loans
The European Stability Mechanism (ESM) on Monday approved an early partial repayment of Greece's outstanding loans to the International Monetary Fund (IMF).
At the same time it will waive Greece's obligation to simultaneously repay the same proportion of outstanding loans...
Economy
EU Approves Greece's Plan to Reduce Bad Loans
The European Commission approved on Thursday a Greek plan to reduce its bad loans at the country's banks by up to 30 billion euros ($33.04 billion), saying that the proposal did not violate state aid rules.
The plan, known as...
Economy
Greece Officially Requests Early Repayment of Expensive IMF Loans
Greek Finance Minister Christos Staikouras signed the official letters on Monday in which Greece requests to pay back to the International Monetary Fund (IMF) part of the loans it received during the financial crisis.
The letters will be sent to the...
Greece
Piraeus Bank, Intrum Join Forces to Tackle Greece's Bad Loans
Piraeus Bank, the leading lender in Greece, announced on Monday it has teamed up with Sweden's Intrum for the management of its 27-billion-euro ($30 billion) bad loan portfolio.
The agreement, which, according to the Bank, will provide a boost in...
Economy
EuroWorking Group Approves Greece's Request for Early Repayment of IMF Loans
According to Greece's state-run AMNA news agency, the EuroWorking group finally gave the green light on Thursday to Greece to repay part of its IMF loans early.
Today's meeting of the Eurozone countries in the EuroWorking group approved the Greek...
Economy
Greece Formally Requests Early Repayment of Expensive IMF Loans
The Greek Finance Ministry sent to the European Stability Mechanism (ESM) on Monday evening the government's proposal for the repayment of part of the loans Greece has received from the International Monetary Fund (IMF).
There has not yet been an...
Economy
PM Tsipras Confirms Greece Plans To Repay IMF Loans Earlier
Greek Prime Minister Alexis Tsipras announced on Monday that Greece plans to repay its more expensive IMF loans earlier than it needs to, in order to ''create favorable conditions for its economy.''
According to officials, Greece plans to repay the...
Economy
Greece Planning Early Repayment of "Expensive" IMF Loans
Greece's Finance Minister Euclid Tsakalotos on Tuesday confirmed that Greece is planning an early repayment of loans it received from the International Monetary Fund (IMF).
Speaking to "Radio Thessaloniki 94.5," Tsakalotos noted that the IMF loans are "very expensive debt."
He pointed...
Economy
Germany Opposes Greek Plans to Repay IMF Loans Early, Report Says
The German Finance Ministry is believed to be opposed to Greece's plans to repay the country's loans to the IMF earlier than stipulated, the German paper Handelsblatt reported on Friday.
The Greek Finance Ministry is planning to repay a sum of €3.8...
Economy
Piraeus CEO: Greek Banks to Significantly Reduce Bad Loans by 2021 (VIDEO)
The high level of bad loans in Greece is still the largest economic issue that the embattled nation needs to focus on, the head of Piraeus Bank told the American television network CNBC on Monday.
Christos Megalou said that there...
Economy
Bank of Greece Presents Plan to Slash Non-Performing Loans by 47%
Τhe Bank of Greece on Thursday presented a plan to reduce Greek banks' non-performing loans by up to 47 percent. Greek banks currently hold the highest level of such loans in Europe.
The non-performing loans are a huge burden for banks...
Economy
House Multi-Bill Guarantees €25 Bln to ESM for Greece's Loans
Greek Finance Minister Euclid Tsakalotos (right) with ESM President Klaus Regling
A clause by which the Greek State guarantees €25 billion for loans received by the European Stability Mechanism is included in the multi-bill submitted to the House for a...
Economy
Bank of Greece Says Bad Loans Declined in 2017
Non-performing loans (NPLs) fell in 2017 and credit risk is down compared with previous quarters, but a further decline will depend on developments in Greece's macroeconomic data, the Bank of Greece has said.
The central bank asked Greek banks to review...
Cyprus
IMF Says Cyprus Needs to Tackle Bad Loans
Cyprus needs to make reforms to cut the number of bad loans in the island's troubled economy, the IMF has said.
A post-bailout monitoring team from the IMF was in Cyprus for the second half of March and recently filed...