Here’s how Much Greece Owes to International Creditors

Here is a breakdown of Greece’s foreign debt stock.

hand of a statue is seen as the Greek flag waves in Athens, Sunday, June 28, 2015. (Photo: AP)

Greece, which may default on an International Monetary Fund debt repayment due on Tuesday, after talks with creditors broke down, owes its official lenders 242.8 billion euros ($271 billion), according to a Reuters calculation. The figure is based on official data, with Germany being the largest creditor, by far.

Here is a breakdown of the country’s foreign debt stock:

IMF

Greece was promised a total of 48.1 billion euros by the IMF, of which 16.3 billion was still to come by March 2016 if Athens successfully completed the second economic adjustment programme.

ECB

The European Central Bank (ECB) owns roughly 18 billion euros of Greek bonds, which would probably be worth a fraction of their face value, should the country leave the euro zone, with 6.7 billion euros maturing in July and August. Beyond a default on Greece’s national debt, any exit of Greece from the euro zone would lumber the ECB with a huge bill for lost credit.

The Euro Zone

Euro zone governments gave Greece 52.9 billion euros in bilateral loans under the first bailout agreed in 2010, known as the Greek Loan Facility. Under the second bailout agreed in 2012 Athens has so far received 141.8 billion euros from the euro zone’s financial rescue fund.

Of the biggest euro zone members, Germany’s exposure for the two bailouts totals 57.23 billion euros, France’s is 42.98 billion, Italy’s is 37.76 billion and Spain’s 25.1 billion. That is in addition to their contributions to the IMF loans, commensurate with their respective quotas in the global lender.

Euro zone countries have already extended the maturities of their loans to Greece from 15 to 30 years and reduced the interest rates on some to just 0.5 basis points above their borrowing cost. They also granted Greece a 10-year moratorium on interest payments on the second bailout loan from the euro zone rescue fund. Greece has asked for further debt relief from the Europeans, a move supported by the IMF. But euro zone governments have said they would only discuss that if Athens further tightens its budget.