Greek Ministry of National Economy and Finance defends debt management policy and says nonperforming loans fell to EUR 72.6 billion

The Greek Ministry of National Economy and Finance, in a press office statement responding to criticism from former prime minister Alexis Tsipras, defended the government's handling of distressed debt and said Greece's stock of nonperforming loans had fallen to EUR 72.6 billion from EUR 99.7 billion in 2018. It said the ratio of nonperforming to performing loans had dropped to 40.5% from 101.3%, performing lending had reached EUR 179.2 billion against EUR 72.6 billion of nonperforming lending, and Greek banks' nonperforming exposure ratio had declined to a historic low of 3.3%. The statement contrasted those figures with the Tsipras period, saying his government established the framework for funds and servicers, introduced electronic auctions, and left nonperforming loans at EUR 107 billion and above 43% of total loans. It added that the Hercules programme cleaned up bank balance sheets and supported the return to investment grade, while debt restructurings have averaged EUR 330 million a month over the last six months, with 42% linked to mortgages. According to the ministry, 80% of auctions are ultimately suspended, residential adjudications account for about 10% of all residential properties, the out-of-court mechanism now offers greater primary residence protection through larger write-downs and lower instalments, and Swiss franc borrowers now have access to restructuring options, significant debt relief and long-term solutions.