Finance Minister Christos Staikouras will present the priorities of the new Greek government at Friday's Eurogroup meeting before sending a letter to the European Stability Mechanism informing Greece's main creditor of Athens' intention to repay some of the loans from the International Monetary Fund ahead of schedule.
Greece's Finance Minister Christos Staikouras will discuss a request for an early repayment of part of the country's outstanding loans to the International Monetary Fund (IMF) during Friday's Eurogroup meeting in Helsinki.
Athens is keen to repay the IMF loan which is more expensive than the yields Greece currently pays in the markets on its bonds.
Senior eurozone officials were neutral to positive this week to a plan presented by their Greek peer for Athens to repay earlier some of its costly loans from the International Monetary Fund, a senior EU official said on Friday.
Greece, cut off from the markets during the sovereign debt crisis of 2010-2015, borrowed heavily from the IMF and eurozone governments.
The cost of money is refusing to drop at any significant pace in Greece as borrowing remains stubbornly high for local enterprises and households in the face of low interest rates in the eurozone.
Small and medium-sized enterprises and the few households that are able to secure bank credit are burdened with rates that are twice the eurozone average.
Prime Minister Boyko Borissov was the guest of honour at the forum of the ruling Christian Social Union in Germany. From there came support for Bulgaria in the investment race of Volkswagen. The meeting with the Christian Social Union had great symbolic power. It should reach potential investors like the automotive concern, said Bundestag leader Alexander Dobrindt.
The government is hoping to secure up to 1.2-1.3 billion euros, or 0.6-0.7 percent of gross domestic product, in additional fiscal space for 2020 that would allow it some leeway to enforce tax easing plans, despite promises last week by Prime Minister Kyriakos Mitsotakis to German Chancellor Angela Merkel that Greece will meet the target of 3.5 percent of GDP for the 2020 primary surplus.