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Posted by: | Posted on: September 4, 2021

Greece could get 11 years to repay its €110bn debts

first_imgSunday 28 November 2010 9:24 pm THE EU and the IMF could extend the period in which Greece must repay its bailout loans by five years, to make it easier for it to service its debt, an IMF official has said.“We have the possibility to extend the repayment period… from about six years to around 11,” Poul Thomsen, the IMF official in charge of the Greek bailout, said.Greek, EU and IMF officials have repeatedly mooted the possibility of extending the period in which Greece must repay its €110bn (£93.43bn) bailout loans.But the IMF official was more specific on how the repayment period could be stretched after Greece receives its last instalment in 2013.Most critical are the first two years, when the bulk of the debt to the EU and IMF falls due. Under current repayment schedules, Greece’s gross borrowing needs will balloon above €70bn a year in 2014-15 from around €55bn a year in 2011-2013.“(As things stand now) Greece must repay the bulk of its €110bn loans in the first two years after the programme expires,” Thomsen said.“This (the extension) would give markets the signal: ‘Don’t worry about the repayment of the €110bn, this is not going to affect your claims’,” he added.Greece in May became the first Eurozone member to turn to its partners and to the IMF for help. Share Tags: NULL KCS-content whatsapp Show Comments ▼center_img Greece could get 11 years to repay its €110bn debts whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter Center Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof last_img read more