Creditors give green light for completion of bailout review


TAGS: Economy, Diplomacy

Greece's creditors on Friday gave the green light for the completion of the country's bailout review, paving the way for the disbursement of further rescue loans.

In a compliance report sent to members of the Euro Working Group on Friday morning, and seen by Kathimerini, creditors noted that Greek authorities had made progress with electronic foreclosures, allowing auditors to sign off on that particular prior action.

The development paves the way for the release of the next bailout funding tranche to Greece.

The money is to go towards servicing the country's debt but also reducing state debts to third parties while another portion will go towards building a cash buffer for Greece to rely on once it exits the third bailout program in August.