Greece completes early repayment of bailout loans to IMF

ATHENS, Greece (AP) — Greece’s finance minister says the country has repaid its outstanding debts dating back to its financial crisis to the International Monetary Fund two years ahead of schedule. Minister Christos Staikouras said Monday that “this closes a chapter that opened in May 2010, when Greece appealed to the Fund for financial support.” Three successive bailouts totaling 260 billion euros ($285 billion) between 2010 and 2018 prevented Greece from going bankrupt and exiting the shared euro currency. But successive Greek governments were forced to implement painful budget cuts and tax hikes that led to a surge in unemployment and poverty. Greece remains under an enhanced surveillance program created by European lenders.