Early debt repayments are at the center of Greece’s financial strategy for 2026, as in addition to the loans of the first bailout agreement (GLF), the loans of the second support program, specifically those of the European Financial Stability Fund (EFSF), are also on the government’s radar.
According to the loan strategy announced for next year by the Public Debt Management Organization (PDMA), the country’s borrowing needs for 2026 are set at €24.677 billion. Of that, €8.871 billion concern debt liquidations, €5.2 billion regard interest payments, €6.739 billion will go to other obligations, €1.587 billion are for share capital increases and €8.79 billion will be used for early debt repayments, at a time when the primary surplus will be formed at €6.51 billion.
Kathimerini understands that the total of €8.79 billion of early repayments during 2026 will be divided as follows: Some €5.3 billion for the early repayment of installments for the GLF loans covering the period 2033-2041 will be paid back in mid-December, at least €1 billion will go for the reduction of interest on promissory notes, €1.5 billion for repurchasing bonds and €1-1.5 billion for early repayments of EFSF loans.
These efforts will bring the national debt down to 138.2% of GDP, from 145.9% in 2025.