Greece paid off debt worth 5.3 billion euros that had been due after 2031 ahead of schedule on Monday, two government officials said.
Monday’s payment would allow Greece to save €1.6 billion in interest payments up until 2041 and lower its debt to below 120% of its economic output by 2029, Greek government spokesperson Pavlos Marinakis said.
The debt was part of Greece’s first 2010 bailout from its eurozone peers and the payment was made to each individual country through the European Commission, said a second official, speaking on condition of anonymity.
Greece had planned to pay off loans granted under the first of three debt-crisis bailouts by 2031, 10 years earlier than scheduled. [Reuters]