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Greece's creditors green light payment of €800 million

The final instalment from the second evaluation of Greece's bailout program has been approved

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Photo: The Week UK

27 October 2017

The final instalment pending from the second evaluation of Greece's bailout program was approved last week, and now the country expects the disbursement of €800 million (AUD$1.2 billion).

According to a note distributed to members of the EuroWorking Group, "the European institutions' assessment of the progress of the Greek authorities in clearing net arrears (...) confirms that the data provided show that the clearance of net arrears complies with the ESM programme requirements, as a basis for the ESM BoD to release the remaining €0.8 billion of programme financing dedicated for arrears clearance that remains from the decision of 7 July 2017".

The €800 million sub-tranche was linked to the repayment of overdue debts of €1.2 billion. The creditors' note stated that Greece exceeded the target, repaying €1.524 billion.

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