Greece plans to repay debts and loans totalling €13 billion ($15.07 billion) ahead of schedule by year's end, including around €2.5 billion from its 2010 bailout programme that was not due to be repaid until 2041, the Kathimerini newspaper reports.
A further €2.2 billion is to go towards redeeming a government bond, and the stock of short-term government bonds is to be reduced by €1.2 billion by year-end. The early repayments would save the country around €360 million in annual interest payments.
Early repayments are also to continue in the coming years, the newspaper said, citing the Economy and Finance Ministry.
Greece had already repaid loans of €6.9 billion ahead of schedule in June - also from the first bailout programme. The country has made repeated early repayments in previous years as well.
According to estimates by the Greek debt agency, the country's national debt is expected to fall to 137% of gross domestic product (GDP) this year. That could mean Greece relinquishes to Italy its unwanted position as the eurozone country with the highest debt ratio by year-end. Italy's debt ratio is forecast to reach 138.6% of GDP in 2026, the Italian broadcaster Rai News reported in May.
During the Greek financial crisis of 2010-18, the country's debt stood at times well over 180% of economic output, and Greece came close to being forced out of the euro.
In response, European rescue mechanisms were created, including the European Stability Mechanism (ESM), which has been able to provide financial assistance to struggling eurozone countries since October 2012.
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