BUSINESS

Gov't now expects tranche at 6.7 billion

EIRINI CHRYSOLORA

TAGS: Finance

The government on Friday adjusted the amount it expects to receive in bailout funding after the third review is completed to 6.7 billion euros, raising it from the 4.5 billion it had estimated 24 hours earlier.

Just like on Thursday, the Finance Ministry issued another informal press update on Friday, saying the expected tranche will include 3.3 billion euros for the country to service its debt from February to June 2018, 1.5 billion euros to pay off the state’s overdue debts to third parties, and 1.9 billion to go toward the so-called cash buffer for the period after the bailout program expires in August.

Kathimerini understands that out of the 1.5 billion for expired dues, 500 million euros will be disbursed along with the rest of the installment in early February, while the remainder will be paid out in April.

The European Stability Mechanism is expected to disburse a total of 9 billion euros toward the safety cushion, according to European Commission planning. The anticipated 1.9 billion euros, if disbursed, will constitute the first payout to that end, while it is not yet known how the remaining 7.1 billion euros will be issued – gradually or as part of the last installment.

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