Moreover, there is now a serious possibility that the 2.6 billion euros the eurozone had set aside for Greece in June will not be coming to Athens, as inspectors representing the single currency bloc and the International Monetary Fund will not have concluded their scheduled monitoring next month. Ministry figures showed on Monday that the successful completion of the debt restructuring (known as PSI) reduced the central government debt from 368 billion euros (or 178.6 percent of gross domestic product) at the start of the year to 280 billion (136 percent of GDP) at end-March, i.e. a 24 percent reduction.
The Greek debt to the eurozone and the IMF grew by 93 billion euros at the start of the year to 130 billion at the end of March, while the debt to private parties sank from 274.8 billion to 149.5 billion euros over the same period. The Greek state will still have to repay just under 55 billion euros in the period from 2013 to 2015, with another 13.4 billion set for 2016. The main positive impact of PSI will not start to emerge before 2017.