Prime Minister Kyriakos Mitsotakis took to Twitter on Monday to announce that his government has officially submitted a request to pay off a portion of the loans extended to Greece by the IMF before they mature, namely, the more expensive borrowing.

He also referred to a move that boosts the country’s creditworthiness and the sustainability of its public debt.

The move was first proposed by the previous Tsipras government, but fell by the wayside when snap elections were declared in early July 2019, and which the ruling SYRIZA party duly lost.

The request was made via a formal letter by FinMin Christos Staikouras towards the ESM and his Eurogroup counterparts.

Athens will prematurely cover 2.9 billion euros of IMF loans burdened with a 5.13 interest rate, out of the 8.8 billion euros money owed to the Fund.

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