BUSINESS

EWG green-lights tranche disbursement for Greece

TAGS: Economy, Euro

The EuroWorking Group (EWG) meeting on Wednesday concluded that Greece has completed the implementation of the reforms agreed with its creditors and will recommend the disbursement of an outstanding 1-billion-euro tranche to the country at the Eurogroup scheduled for Friday, according to eurozone sources.

Eurozone finance ministers will discuss the disbursement at their meeting in Bucharest on Friday. Once they ratify the conclusions of the EWG, they will give the green light to start the process of disbursement, which will include the ratification of the decision by some European parliaments.

Speaking from the city of Patras in the northern Peloponnese, Finance Minister Euclid Tsakalotos said the EWG teleconference “went very well,” adding that he is “very optimistic” that the amount will be disbursed next Monday.

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