International Monetary Fund

Following the repayment of the 2.5 billion dollars Russian loan this year, the government has indicated that it is also planning for the early repayment of the debt to the International Monetary Fund.

It is happening sooner than anticipated: Two major Greek companies - namely oil refiner Hellenic Petroleum and OTE telecom - are preparing to borrow hundreds of millions of euros from the markets. Meanwhile, the country is about to rid itself of the expensive loans granted by the International Monetary Fund and plans to tap financial markets.

The European Parliament has voted Christine Lagarde's nomination as President of the European Central Bank.

Lawmakers voted 394 in favour, 206 against and with 49 abstentions in the parliament's plenary in Strasbourg.

The approval of Lagarde's nomination is uncertain, as the final decision on her appointment is taken by the European Council.

Today, MEPs will vote on the nomination of Christine Lagarde as President of the European Central Bank. 

Before the secret ballot there will be a debate in the plenary.

The European Parliament expresses its opinion on whether the candidate is suitable for the post, with the final decision being taken by the European Council.

Finance Minister Christos Staikouras sent a letter on Monday asking the European Stability Mechanism (ESM) and the European Financial Stability Facility (EFSF) to approve the repayment of the expensive part of Greece's loan from the International Monetary Fund before it is due.

Greek bond prices rallied and yields fell sharply in the domestic electronic secondary bond market on Monday after news that the Greek government initiated procedures for an early repayment of the expensive part of its loans to the International Monetary Fund (IMF).

Prime Minister Kyriakos Mitsotakis said Monday that Greece has submitted its request for an early repayment of a chunk of its expensive loan from the International Monetary Fund (IMF), noting that the move "enhances the country's credibility, improves public debt sustainability indicators and saves resources for the Greek state."

He said in an interview for daily "Blic" that the increase in the public sector would follow from the November salary, which is paid in December.
"Talks with the IMF are currently underway, and we are encouraged by a budget surplus of RSD 46.6 billion in August," Mali said.

European Stability Mechanism (ESM) chief Klaus Regling has indicated that Greece's lenders may consider reducing high primary surplus targets if the debt-laden country can overshoot growth targets after 2020.

France has proposed the EU to create its own national digital currency and abandon the use of Facebook's Libra cryptocurrency to protect its financial sovereignty. This was stated today by French Finance Minister Bruno Le Maire on his arrival at the meeting of the European finance ministers in Helsinki, BTA quoted Reuters and TASS as saying.