Greece Aims to Repay First Bailout Loans a Decade Early

Greece is set to repay its first bailout loans earlier than the scheduled date of 2041, according to a statement today (April 23, 2025) by Finance Minister Kyriakos Pierrikakis on ERT News. He emphasized that reducing debt allows primary surpluses to reach society more effectively. Speaking ahead of the 15th anniversary of Greece’s initial recourse to bailouts, Pierrikakis noted, “After a lost decade of three memoranda, we find ourselves in the midst of a winning phase.” He added, “We don’t favor self-serving terms in the economy when people struggle and the journey has been fraught with difficulties for the Greek people, but the facts speak for themselves,” referring to the surplus and measures announced yesterday. Pierrikakis further stated, “The IMF loans were repaid three years ahead of schedule. We must also repay the first memorandum loans, and we aim to do so ten years early. With things going well, we’re not talking about a scenario but a reality. The most crucial aspect is enabling someone to lift this burden. By reducing debt, the primary surpluses we create reach society quicker and better.