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Athens News Agency: News in English, 11-07-02

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] Eurozone OKs 5th loan tranche to Greece

  • [01] Eurozone OKs 5th loan tranche to Greece

    (-PA) -- The council of Eurozone ministers on Saturday approved its portion of the fifth installment of an EC-ECB-IMF loan to Greece, worth 12 billion euros out of the total package of 110-billion-euros, following an afternoon tele-conference.

    According to an ANA-MPA dispatch from Brussels, Eurogroup president Jean-Claude Juncker said the decision was positive for Greece, with the fifth installment formally being dispersed after approval by the IMF, whose board will probably convene next week. (-PA)

    Of the 12-billion-euro instalment, 8.7 billion will come from Eurozone countries, with the remaining 3.3 billion coming from the IMF.

    "The Eurogroup decisions came about after the ratification, by the Greek Parliament, of the Medium-Term Fiscal Strategic Programme and the enabling law. This development boosted the country's international integrity. What is now crucial is the timely and effective implementation of Parliament's decisions, so we can gradually start to emerge from the crisis..." Greek Finance Minister Evangelos Venizelos said from Athens. (-PA)

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