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IMF has made €2.5 billion profit out of Greece loans

Greek Left Review

Jubilee Debt Campaign

Ahead of the payment of €462 million by Greece to the IMF on Thursday 9 April, figures released by the Jubilee Debt Campaign show that the IMF has made €2.5 billion of profit out of its loans to Greece since 2010. If Greece does repay the IMF in full this will rise to €4.3 billion by 2024.

French Finance Minister and G20 chair Christine Lagarde makes a statement at the G-20 Press Conference at the 2011 IMF/World Bank Spring Meetings at International Monetary Fund Headquarters (IMF),  April 15, 2011 in Washington, D.C. IMF Staff Photographer/Michael Spilotro French Finance Minister and G20 chair Christine Lagarde makes a statement at the G-20 Press Conference at the 2011 IMF/World Bank Spring Meetings at International Monetary Fund Headquarters (IMF),
April 15, 2011 in Washington, D.C.
IMF Staff Photographer/Michael Spilotro

Christine Lagarde
Christine Lagarde, Managing Director of the International Monetary Fund. Photo: IMF Staff Photographer/Michael Spilotro
The IMF has been charging an effective interest rate of 3.6% on its loans to Greece. This is far more than the interest rate the institution needs to meet all its costs, currently around 0.9%…

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This entry was posted on July 6, 2015 by .
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