EU fund backs early repayment of Greek bailout loans to IMF

ATHENS, Greece (AP) — Greece’s European Union bailout lenders have approved a plan for the country to repay outstanding loans to the International Monetary Fund two years ahead of schedule. The bloc’s bailout fund, the European Stability Mechanism, said the outstanding loans worth 1.86 billion euros could be settled early. Three successive bailouts totaling some 260 billion euros between 2010 and 2018 helped Greece avoid bankruptcy and keep the shared euro currency despite tough budget austerity measures causing a surge in unemployment and poverty.