NEWS

Eurogroup to hold teleconference to discuss Greek bond buyback

Euro area finance ministers will be discussing later on Tuesday a scheme launched by Greece to buy back sovereign bonds that's crucial to unlocking aid from the International Monetary Fund and the European Union.

The Eurogroup will be holding a teleconference «in the late afternoon,» according to sources, after the close of the extended deadline for investors.

Greece was near its target in the buyback with the amount offered close to 30 billion euros, an official at the Greek Finance Ministry told Bloomberg on Sunday, referring to the face value of the securities.

Euro area finance ministers will be discussing the outcome of the scheme and are expected to decide on whether to release a 34.4 billion euro tranche of bailout funding for Greece.

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