The debt settlement measure that allows for overdue debt to be paid off in 100 installments will go ahead, according to a finance ministry announcement on Saturday.

“The measure that gives the option of paying off debts to the public sector through a settlement of up to 100 installments is a law of state that will be enforced,” said the ministry.

The European Central Bank (ECB), European Commission (EC) and International Monetary Fund (IMF) troika of international creditors had demanded that the government take back the measures that were recently passed by Parliament. An article in daily Kathimerini newspaper had stated that troika had demanded that the bill making the 100 installments had to be repealed as the cost would be too high.

The Finance Ministry announced that talks with troika are ongoing and are focused on a wide range of issues.