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Economy

Greek FinMin Leaves Open Possibility of New Settlement Schemes for Overdue Debts

November 24, 2020

ATHENS — Finance Minister Christos Staikouras on Tuesday left open the possibility of a new settlement scheme for overdue debts that will run to between 100-120 installments, depending on developments linked to the pandemic.

In an interview with radio station 'Parapolitika', he stated that "obviously there are many thoughts in relation to the development of the health crisis," adding that "we are discussing them with the institutions".

However, decisions on the possibility of new debt settlement are not expected before the end of the first quarter of 2021, when it is estimated that there will be a clearer picture of how the pandemic has unfolded.

Staikouras also referred to the initiatives to date for the "freezing" of debts created during the first lockdown and the start of repayment in April 2021 in 12-24 installments, the revival of debt settlements that lapsed during the pandemic and a postponement of installments for active debt settlements to the end of the repayment period.

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