Greece’s creditors today have agreed to release the next tranche its rescue loans, amounting to EUR10.3 billion ($11.5 billion).
After late-night talks in Brussels, the eurozone finance ministers and the International Momentary Fund came the deal that unlocks the aid and sets out how the country can get future debt relief.
The funds will help the country avoid defaulting on debt repayments to the IMF and European Central Bank due in July. The first bit of the loan, EUR7.5 billion, will be released next month and the remainder of the payment will be made after the summer.
The finance ministers and the IMF agreed to a number of measures to restructure the country’s EUR86 billion in debts before the bailout ends in 2018.
The IMF made maj…
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