Euroworking Group approves 1 billion euro tranche to Greece

The country’s lenders believe that Greece has fulfilled the first six prior actions agreed and that the loan could be disbursed on Monday, July 7

The Euroworking Group on Friday approved the 1 billion euro tranche of economic aid to Greece, the Finance ministry said.

The country’s lenders believe that Greece has fulfilled the first six prior actions agreed and that the loan could be disbursed on Monday, July 7 when a Eurogroup meeting is scheduled to discuss, among others, the progress in implementing a Greek economic program.

Greek authorities, meanwhile, focus on the remaining six prior actions during the month. Government officials estimate that this can be achieved in this month offering a clear sign of credibiity ahead of the return of troika officials to Athens, July 9.

The troika officials will assess the course of implementing prior actions, budget execution and any fiscal gaps created from court decisions annuling government legislation to cut wages of specific worker groups.