ESM completes transfer of 603 mln euros to Greece

The European Stability Mechanism (ESM) on Monday announced the completion of the eighth transfer of income earned by central banks on holdings of SMPs and ANFAs to Greece, worth approximately 603 million euros, as part of a debt-relief package.

The Board of Directors of the European Financial Stability Facility (EFSF) decided also to reduce to zero the step-up margin accrued by Greece for the period between June 17 and December 31, 2022, as part of the medium-term debt relief measures agreed for the country in 2018.

The value of this eighth reduction amounts to €122.5 million.

The Board of Directors also decided to reduce the step-up margin to zero from January 1, 2023 onward. This concludes the reduction of the step-up margin under the medium-term debt relief measures.

"Greece has made continued progress with reform implementation, while capably dealing...