Greece confident over new rescue loan installment
Monday, January 31, 2011
ATHENS, Greece (AP) — Greece’s finance minister says he expects EU and IMF officials to approve the release of a new rescue loan installment after an inspection visit to Athens this week.
George Papaconstantinou says Greece has fulfilled all preconditions for the latest 15 billion ($20 billion) loan segment from the European Union and the International Monetary Fund.
The debt-ridden country avoided bankruptcy last year with a total 110 billion ($150 billion) loan program through mid-2013. In return, the government is taking unpopular austerity measures, cutting pensions and salaries, while raising taxes and retirement ages.
Greece is under close EU and IMF scrutiny and continued release of the loans depends on the course of reforms.
Papaconstantinou was quoted in an interview with Ta Nea newspaper Monday.