Wednesday Jul 23, 2014 Search
Weather | Athens
31o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Eurozone and IMF ready to approve tranches of 11.9 bln

 Decision hinges on Greek Parliament’s voting on the multi-bill

The eurozone and the International Monetary Fund will approve the disbursement of bailout tranches to Greece adding up to 11.9 billion euros if the Greek Parliament votes for the draft law that includes all the measures agreed with the country’s creditors. Representatives of the IMF and the European Commission said they are ready to approve the installments once the multi-bill is passed in an effort to bolster the government’s arguments supporting the latter.

Sources say that the eurozone is ready to approve a tranche of 8.3 billion euros and the IMF 3.6 billion euros. A Finance Ministry official said most of the eurozone loans will be disbursedv as the sole prior action required is the voting of the multi-bill. These funds are estimated at about 6 billion euros and combined with the one-off disbursement from the IMF will cover the country’s obligations amounting to 9 billion euros at end-May.

As for the funds from the eurozone that will not yet be disbursed but only approved, the same sources in Brussels noted that they will be paid out in two parts after May. Their release will depend on the implementation of prior actions.

A senior European official said on Thursday in Brussels that the informal Eurogroup meeting of eurozone finance ministers scheduled to take place on Tuesday in Athens will officially approve the program and the disbursement of the bulk of the bailout tranche. “All that is left now is for the Greek Parliament to vote for the draft law so that we can formally approve the disbursement,” he stated.

IMF spokesman William Murray said on Thursday that owing to the delay to the fifth assessment, the tranches to Greece will be restructured. “I cannot say what the exact amount to be disbursed will be when this assessment is completed,” he said, adding that “it will be different to the previous assessment.” He assumed that “it will be bigger.” This way, the Fund’s fifth and sixth assessments will be completed at the same time. The objective set is for the IMF to have completed the process by end-April, so that the 3.6 billion euros can be disbursed in early May.

ekathimerini.com , Thursday March 27, 2014 (22:57)  
Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
Number of firms filing for bankruptcy in Greece drops
TAIPED finally finds suitors for Afandou properties
Traders say last weekend proved Sunday opening is pointless
Police release new photos of fugitive Roupa
Authorities have released four new photographs of Panayiota Roupa, the fugitive partner of urban guerrilla leader Nikos Maziotis who was arrested by police last week. Roupa, 45, is seen with...
Parts of Thessaloniki university campus sealed off as police investigate bomb threat
Parts of Aristotle University of Thessaloniki, in northern Greece, were evacuated on Wednesday after a bomb threat, according to police. University officials told police a man had called ear...
Inside News
TRACK & FIELD
Athens, the Marathon capital of the world for good
Paco Borao, the man who restored Athens as the Marathon capital of the world with the establishment at the Olympic Sports Center of the headquarters of the International Association of Marat...
TRACK & FIELD
Pole vault record on same day as three doping cases
Greek track and field had a mixed weekend, as on the same day as Katerina Stefanidi matched the national record in pole vault as well as the leading result in Europe so far this season, thre...
Inside Sports
COMMENTARY
Front-line threats
Ongoing developments in the country’s broader neighborhood are creating new challenges as well as threats in terms of the country’s interests. While the Middle East is turning into a big bla...
EDITORIAL
Testing behavior
No country is capable of functioning properly without having an elementary evaluation system in place to assess its public sector employees. In Greece, a country where the lowest common deno...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Police release new photos of fugitive Roupa
2. Parts of Thessaloniki university campus sealed off as police investigate bomb threat
3. Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
4. Number of firms filing for bankruptcy in Greece drops
5. TAIPED finally finds suitors for Afandou properties
6. Traders say last weekend proved Sunday opening is pointless
more news
Today
This Week
1. Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
2. Front-line threats
3. Testing behavior
4. Parts of Thessaloniki university campus sealed off as police investigate bomb threat
5. Police release new photos of fugitive Roupa
6. Unequal after death
Today
This Week
1. Ex-Credit Suisse banker taps lesson for Greek rebound
2. The cost of excellence
3. Greece seen in third bailout as bonds not enough, economists say
4. Climber dies in Mount Olympus fall
5. Summer storms cause problems in Thessaloniki, spread across the country
6. Greek banks able to tap investors after stress tests, HFSF Says
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.