ATHENS (Reuters) – Greece’s parliament on Thursday passed a fast-track reform package to unlock bailout funds and wrap up a fourth and final review of its loan program as it seeks more debt relief from its official creditors next week.
Greece is due to exit its latest bailout program in August and will then have to rely on financial markets to cover its borrowing needs.
Country - Ratio - Percent - Euro - Zone
The country has a debt-to-GDP ratio of 179.8 percent, the highest in the 19-nation euro zone.
Athens is keen to pass the final review of the country’s compliance with reforms prescribed in its bailout before a euro zone finance ministers meeting on June 21.
Light - Review - Euros - Loans - Greece
A green light on the review would release about 12 billion euros ($13.97 billion) of new loans from Greece’s latest 86 billion euro bailout, its third since 2010.
The final payment from the bailout funds would add to a cash buffer the Greek government is creating and could serve as a fall-back option for refinancing needs.
Lawmakers - Reform - Package
Lawmakers passed the reform package 154-to-144 in the...
Wake Up To Breaking News!
Faith cometh by hearing, and hearing by the Word of God.