ECONOMY

Greek lenders hope loans payout in mid-October

greek-lenders-hope-loans-payout-in-mid-october

Jeroen Dijsselbloem, the eurozone’s top official, has expressed his hope that the Greek government will get 2 billion euros ($2.1 billion) worth of bailout cash by the middle of October.

To get the money, Dijsselbloem said Greece will have to implement the next set of “milestones’ in its bailout deal agreed on in the summer. Greece has to meet certain conditions to unlock money from its three-year 86 billion-euro bailout deal.

At the conclusion of Monday's meeting of the eurozones 19 finance ministers, Dijsselbloem said Greece should be able to get a further 1 billion at the end of the month.

Dijsselbloem said the Greek government must maintain its “strong reform momentum.”

Doing so will help the country “regain trust in and out of Greece,” he said.

[AP]