Finance Μinistry: Progress of auctions not linked to sub-tranche for paying arrears

The only condition agreed with the institutions for the disbursement of the second sub-tranche of one billion euros for the payment of arrears is the payment of one billion euros of the state’s arrears to the private sector by mid-April 2018, the finance ministry said on Saturday.

The ministry denied a report in “Kathimerini” that the disbursement of sums to pay off state arrears was also linked to the progress of auctions to pay off debts.

Breaking down the decision made by the Eurogroup Working Group (EWG) regarding the 6.7 billion euros in loans to Greece, the ministry noted that 5.7 billion euros will be given upon the conclusion of oustanding technical issues linked to the last of the prior actions, without a new meeting, by mid-February.

Of this amount 3.3 billion euros will cover the Greek state’s borrowing needs until the end of June, 1.9 billion euros will be used to increase the cash buffer and the remaining 0.5 billion euros will be the first of two installments for the payment of arrears.

“The one billion euros will be given in mid-April on the basis of progress in paying off arrears and only that,” the announcement added.