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Billion euro tranche to be released

Since the multi bill that caters for lenders' prerequisites was passed by parliament,it is just a matter of time until the one billion euro tranche is disbursed by the lenders.

 

According toTa Nea, it is expected that the disbursement will take place during the feast of the Assumption, as in a teleconference on Thursday with the troika, Finance Minister Gikas Hardouvelis and close associate of Prime Minister Stavros Papastavrou agreed that by the time the Law lon the prerequisites is published in the Government Gazette and after 2-3 days, the EuroWorking Group will meet through teleconference, as usual, to release the tranche.

Total liabilities for bonds maturing, interest and repayment of capital given under the first loan from the IMF tops 6.7 billion euros.

However, even if the tranche is released on 15 August, the General Accounting Office has the money to meet the increased requirements of the government, given the 1.5 billion euros the government garnered through the issue of three-year bonds in July.