On 30th of March 2020 the Minister of Finance issued a governmental decree providing for suspension of the loan installments, approved by the Parliament. According to the Decree, the obligation to pay installments, including interest on credit facilities granted and/or purchased and/or managed by financial institutions, is suspended for all beneficiaries. The beneficiaries are natural persons, legal persons governed by public law, self-employed persons and businesses who have had no delays in paying the installment more than 30 days from the dated provided for by existing contractual obligations on 29 February 2020.
The above measures are valid from 30th of March, 2020 until 31st of December 2020.
The suspension of installments and interest shall apply from the date of issue of the Decree, provided that the beneficiaries send in writing to the financial institutions the expression of interest.
All installments of capital and interest for which the payment period is suspended at the date of expiry of the decree shall not become immediately chargeable.
On the expiry date of the decree, the payment of installments and interest shall resume and the period of payment shall be deemed to have been automatically extended for any period required.
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