Greece to probably repay IMF loans in two-three months

The process of an advance repayment of loans to the International Monetary Fund that Greece has requested in April “will be completed in the next two or three months, if there are not any unexpected developments,” Michalis Psalidopoulos, Greece’s representative in the IMF said in an interview with the Athens-Macedonian News Agency on Monday.

Repayment “will be completed when all Parliaments of Eurozone member-states that lent to Greece in the framework of the “Greek Loan Faciility” complete approval procedures of an ESM recommendation. I would say two-three months, if there are not any unexpected developments,” Psalidopoulos said.

The Greek representive acknowledged that “right decisions in the right moment were not taken,” and said criticism on some basic decisions taken by the Fund on the Greek economic crisis was fair. He stressed, however, that this criticism was made afterwards and did not reflect the complex landscape and the particular challenges faced by the IMF. “International economic cooperation is not a Hollywood movie where the hero instantly responds to a difficult situation…” he noted. Psalidopoulos said that the IMF tried not to act spasmodically in view of the complexity of the Greek crisis and, as a result, a restructuring of Greek debt was delayed. Psalidopoulos will release a book on “Greek Loans: 200 years of growth and crises” this month.