ESM’s Regling: It would be good for Greece to repay expensive IMF loans

The head of the eurozone rescue fund said it would be wise for Greece to pay back early its outstanding loans with the International Monetary Fund, as they are more expensive than the yields Athens currently pays in the markets on its bonds.

Klaus Regling, who chairs the European Stability Mechanism, was speaking at a news conference after a meeting of eurozone finance ministers in Bucharest which agreed on the disbursement of a new grant of nearly 1 billion euros ($1.1 billion) to Greece as part of its post-bailout program.

[Reuters]