ECONOMY

IMF to decide on release of 1.8-billion-euro tranche to Greece

The International Monetary Fund’s managing board was to convene in Washington on Friday with the approval of a 1.8-billion-euro tranche of rescue aid to Greece expected to top the agenda.

According to sources, IMF officials were to discuss the progress of Greece’s entire economic adjustment program and focus in particular on the issue of the viability of Greece’s debt.

Earlier this month, the Euro Working Group of eurozone finance ministry approved the disbursement of a 4.2-billion-euro bailout tranche to Athens. The EWG is to

convene again on June 7 to examine whether Greece has fulfilled its commitments for the next tranche of 3.3 billion euros. Both tranches have been given by the green light by eurozone finance ministers.