Tuesday April 21, 2015 Search
Weather | Athens
14o C
09o 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 Parliaments 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 countrys 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 governments 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 countrys 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 Funds 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)  
Dijssebloem expects deal with Greece in coming weeks
Euro-area debt levels surge to record, led by Greece
ECB studying curbs on Greek bank support
Greek markets slide on reports ECB planning to restrict bank funding
Juncker urges Greece to step up effort in debt talks
European Commission President Jean-Claude Juncker urged Greece on Tuesday to step up efforts to strike a deal with its international creditors, warning that talks were not advanced enough to...
UN urges Europe to put asylum at center of Mediterranean debate
GENEVA - The UN refugee agency on Tuesday urged European leaders to do more to help Greece and Italy cope with the migrant crisis in the Mediterranean and to put protection of people at the ...
Inside News
BASKETBALL
Panathinaikos recovers to beat CSKA for 2-1
Three-pointer master Panathinaikos had the last laugh at the end of Game 3 of its series with CSKA Moscow on Monday winning 86-85 and reducing the Russians' lead to 2-1 in the best-of-five p...
GYMNASTICS
Petrounias wins gold in Europeans
Lefteris Petrounias won his first gold medal in a European Artistic Gymnastics Championship on Saturday finishing first in the rings at Montpellier in France. Petrounias was impeccable in th...
Inside Sports
COMMENTARY
Tragedy in the Mediterranean
Every time we in the West see yet another video of an atrocity committed by Islamic State or Boko Haram and express our abhorrence, and every time we are shocked to read of a boatload of mig...
EDITORIAL
Silence is not an option
There is no shortage of politicians, lobbyists and unionists from the center right who have backed the government, whether tacitly or explicitly. Naturally, when it was first elected, the go...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Dijssebloem expects deal with Greece in coming weeks
2. Juncker urges Greece to step up effort in debt talks
3. UN urges Europe to put asylum at center of Mediterranean debate
4. More than 120 migrants reach Greek shores, a day after fatal sinking
5. Greek municipalities outraged by state move to use funds
6. EU proposes doubling rescue effort, schedules crisis meeting on Thursday
more news
Today
This Week
1. Greek government's popularity takes a hit as talks drag on
2. Tragedy in the Mediterranean
3. Two men accused of migrant smuggling face prosecutor over deadly shipwreck
4. No ferries on Labor Day as seamen take industrial action
5. Silence is not an option
6. ECB studying curbs on Greek bank support
Today
This Week
1. Quarantine for Greek bank subsidiaries in neighboring countries
2. Greek finance ministry hits back at German newspaper report
3. Time to get serious
4. Putting off payments led to Q1 budget primary surplus
5. Obama calls for flexibility in Greek reform talks in brief exchange with Varoufakis
6. Greece denies report that it is preparing for debt default
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.