ECONOMY

Euro Working Group OKs release of 2.8 billion euros

The Euro Working Group on Friday gave the green light for the disbursement of a 2.8-billion-euro tranche of rescue funding for Greece, the Finance Ministry said.

The chief «prior action» demanded of Greece for the approval of the February tranche was the updating of the revised Medium-Term Fiscal Strategy (MTFS) for 2013 to 2016 which was approved this week.

The focus will now shift to securing approval for the next tranche of aid due to be released in March.

Representatives of Greece’s so-called troika of international lenders are due in Athens next Monday to review the government’s progress in implementing reforms promised in exchange for continued rescue loans.