Greece to request early IMF loan pay-off

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Greece’s Finance Minister Euclid Tsakalotos, said the IMF was set to approve the government’s proposed plan to request for an early payoff of part of its IMF loans and will table an official request to the European Stability Mechanism (ESM).

Tsakalotos made the comments whilst speaking to Greek correspondents in Washington, adding that IMF chief Christine Lagarde was satisfied with the specific proposal as the IMF considers that the early payment is a positive development.

The Minister also noted that Lagarde said that Greece's request is fair as something similar had happened in the cases of Portugal and Ireland.

Asked for the possibility of reactions in some countries that might set at risk the smooth process of the early payoff, the Greek Finance Minister said that ESM chief Klaus Regling has repetitively supported the specific decision.

On the reduction of the tax free, Tsakalotos reminded that a year ago at IMF's spring session he had said that there will be no cuts in the pensions, insinuating that he is optimistic and, in this case, and the implementation of the specific measure will be suspended.