Critical Eurogroup on Greek program review and disbursement of next loan tranche

The economic staff is also expected to examine the issue of Greek debt relief based on the proposals of the European Support Mechanism.

According to sources, the measures proposed by the ESM for debt relief include, among others, the extension of the grace period for the repayment of loans, the longer loan repayment period, keeping interest rates at current low levels, and the early redemption of the IMF loan.

After the EuroWorking Group on Monday, a eurozone official stated that no agreement had been clinched with the IMF and expressed the hope for an agreement at the Eurogroup.

The same official suggested that the eurozone Alternate Finance Ministers have decided upon a draft agreement on the debt which, however, does not have the consent of the IMF.

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