.

Greece secures a further 6.8bn euros of bailout funds

DA NANG Today
Published: July 09, 2013

Greece has passed another hurdle in its bailout programme, by securing the next instalments of funds that are keeping the country afloat.

Troubled times in Greece
Troubled times in Greece

The money, totalling 6.8bn euros ($8.7bn), will come from the troika of the European Commission, the European Central Bank and the International Monetary Fund (IMF).

But they said that Greece's reform programme is moving too slowly.

The troika added that the country's economic outlook remains uncertain.

Eurozone finance ministers meeting in Brussels said 2.5bn euros ($3.2bn) would come from the eurozone rescue fund and 1.5bn euros ($1.9bn) from European Central Bank.

While the payments are likely to be made this month, another 500m euros ($643m) from the rescue fund, plus 500m euros from the European Central Bank will follow in October.

Then the IMF will loan 1.8bn euros ($2.3bn), bringing the overall total to 6.8bn euros.

(Source: BBC)

 

.
.
.
.