Greece’s creditors reach deal on debt relief measures

EPA-EFE/JULIEN WARNAND

(L-R) Greek Finance Minister Euclid Tsakalotos, European Commissioner for Economic and Financial Affairs, Pierre Moscovici and The President of the Eurogroup, Portuguese Finance Minister Mario Centeno during a meeting of the Eurogroup in Luxembourg, June 21, 2018.

Greece’s creditors reach deal on debt relief measures


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The European Commission, European Stability Mechanism, European Central Bank (ECB), and International Monetary Fund (IMF) have all agreed with the Eurozone’s 19 finance ministers of the Eurozone to extend Greece’s repayment period by 10 years on loans from Athens’ second €96 billion European Financial Stability Facility bailout.

An additional 10-year grace period – where the loans’ interest will not rise – will be granted as well. The final tranche of the Greek debt relief programme will include €3.3 billion for Greece’s IMF and ECB repayment. This brings the final disbursement to €15 billion, according to several EU officials familiar with the discussions.

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