Greece: New loan schedules and IMF-related financial measures announced

Borrowers who have restructured their debts under the Katseli Law in Greece can expect new repayment schedules by the end of the year. Following a recent Supreme Court decision, interest will now be calculated based on the monthly installment rather than the total loan amount. This change is expected to significantly reduce monthly payments for thousands of debtors. For example, a €100,000 loan with a 20-year term and 4.5% interest could see monthly payments drop from €616 to €417.

Additionally, a timeline for various IMF-related financial measures has been outlined. Starting September 25, certain professionals including doctors, nurses, and educators will receive retroactive double rent payments for the 2024 tax year. On November 1, farmers will receive fuel tax refunds, followed by rent reimbursements and a €400 allowance for pensioners over 65, people with disabilities, and uninsured elderly citizens on November 30. Looking toward 2027, measures include the abolition of ENFIA property tax in settlements under 2,000 residents and adjustments to electricity bill charges.