The IMF Has Made €2.5 Billion Profit Out of Greece Loans
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.
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%. If this was the
actual interest rate Greece had been paying the IMF since 2010, it would
have spent €2.5 billion less on payments.
