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Greece's next bailout payment

April 15, 2013

Debt inspectors have said Greece is likely to meet conditions for the next tranche of bailout money from international lenders. Athens went as far as to say that an agreement had already been reached.

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Eurozone and greek flag, with a one-euro coin in the foreground
Image: dapd

Greece could expect to receive an urgently needed bailout tranche within weeks, the European Union, the European Commission and the International Monetary Fund (IMF) said in a statement in Brussels on Monday.

They noted that fellow eurozone nations would soon be able to agree to disburse another 2.8 billion euros ($3.66 billion) for the Southern European country, which has been dependent on the rescue loans since 2010.

The group of international lenders known as the troika argued that targets for March "were likely to be met by Greece soon," paving the way for continued bailout tranches. It added a definitive decision would be reached in May.

Greeks vent frustration at soaring unemployment and stagnating economy

Optimistic outlook

Economists are eagerly awaiting the details of a review by the troika of the process under which Greece receives installments of its multi-billion euro bailout. The bailout installments are subject to certain conditions.

The country has been expected to implement further reforms, including the firing of many civil servants.

The talks under way since March "have wrapped up, we have an agreement," Greek Finance Minister Yannis Stournaras said at a conference in Athens. He expressed confidence that his country's economy would return to the path of growth in the years ahead and drastically reduce its public debt.

hg/mz (dpa, AFP, Reuters)