Greece is set to make an early repayment of 5.3 billion euros ($5.8 billion) to euro zone countries on December 15, ahead of the scheduled maturity in 2024 and 2025. Finance ministry officials expressed the intention to repeat this early repayment in 2024. This move follows Greece regaining its investment-grade credit rating after the expiration of its third bailout in 2018. The country had previously paid off the International Monetary Fund (IMF) ahead of schedule and aims to continue improving debt sustainability by repaying bilateral loans. Euro zone countries had lent Greece 53 billion euros under the Greek Loan Facility (GLF) during its first bailout, and with the planned payment, Greece will have repaid about 13 billion euros. Since exiting bailouts in 2018, Greece has relied on bond markets for financing and plans to borrow approximately 7 billion euros next year. The country exhibits strong economic growth, projecting 2.9% in 2024, supported by higher investment and robust tourism revenue, with a liquidity buffer exceeding 35 billion euros.

SOURCE: GOOGLE