EWG greenlights disbursement of remaining 1.7 billion euros

The Euro Working Group has approved the payment of the second tranche installment (worth 1.7 billion euros) following the completion of the first bailout program review. Disbursement of the tranche confirms that the government has achieved its goals.

The 2.8 billion euro of the first review was initially split into two installments as there were unresolved issues regarding the clearance of net arrears, with the first installment worth 1.1 billion euros being paid out earlier in October.

The European Stability Mechanism (ESM) is scheduled to convene on Tuesday morning in Brussels to formally approve the disbursement of the 2.8 billion euros total to the Greek government.