greece to get 8 bln euro bailout tranche in november
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Greece to get 8 bln euro bailout tranche in November

Arab Today, arab today

Arab Today, arab today Greece to get 8 bln euro bailout tranche in November

Athens - Ria Novosti

Greece may get the next 8 billion euro tranche out of a 100 billion euro bailout from the troika of international lenders by next month, despite failing to fully implement a cut in spending agreed with them, the lenders said on Tuesday. "Once the Eurogroup and the IMF's Executive Board have approved the conclusions of the fifth review, the next tranche of 8 billion euro (5.8 billion euros by the euro area member states, and 2.2 billion euros by the IMF) will become available, most likely, in early November," the international lenders said in a joint statement. The achievement of Greece's fiscal target for 2011 is no longer within reach, partly because of a further drop in GDP, but also due to slippages in the implementation of some of the agreed measures, the troika said. "The recession will be deeper than was anticipated in June and a recovery is now expected only from 2013 onwards," the statement said. The international lenders feared that Greece, which officially confirmed last week it would miss its 2011 and 2012 budget deficit targets, a precondition set by the lenders for providing the next tranche, might default on its sovereign debt without the aid as soon as the second half of October. Many experts expect Greece to default on its obligations in the next six to 12 months. The expectations of Greece's default have depressed global equity markets in the past few weeks. Greece is implementing tight austerity measures, including major public sector redundancies and budget cuts to avoid default and receive bailout funds from the European Union and the IMF.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

greece to get 8 bln euro bailout tranche in november greece to get 8 bln euro bailout tranche in november

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

greece to get 8 bln euro bailout tranche in november greece to get 8 bln euro bailout tranche in november

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday