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Eurozone grants new loan to Greece and work on debt relief measures

Mario Centeno

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Eurozone lenders will grant new loans to Greece this month and work on debt relief measures, revealed the President of the Eurogroup Mario Centeno. The moves should boost the recovery of Greek economy and stabilize its growth.
The Greece’s 86-billion-euro rescue program, the third since 2010, is coming to its end in August, and international lenders are discussing how to ensure that the country maintains strong growth in the coming years.
“The Eurozone rescue fund will issue a new 5.7 billion EUR loan to Athens in the second half of March after Eurozone parliaments complete approval procedures”, said Mario Centeno at a press conference after a regular Eurozone finance ministers meeting.
This happens after Greece has fulfilled all its commitments on the third and last review of the rescue program. To get out of the program successfully, the fourth review of 88 tasks needs to be completed before August. This will allow Greece to assess other loans and raise money from the international markets.
“I am convinced that Greece will do all the other tasks to finish the program successfully”, said Mario Centeno.
Among the remaining tasks are further privatizations and liberalization of the gas and electricity markets.
“These measures are prerequisites to ensure Greece’s debt relief”, said Centeno. “The technical talks on linking the future eurozone debt relief to the pace of Greece’s economic growth continue”, also said the President of the Eurogroup, adding that additional measures could be discussed in April.