Euro zone finance ministers are likely to approve on Monday the disbursement of much or all of the money from the 2.8 billion euro ($3.14 billion) tranche of loans Greece is waiting for, two senior euro zone officials said on Friday.
The disbursement in part or in full is likely because the country has met almost all the 15 reform milestones agreed with lenders as conditions for the payout.
The only milestone not fully complete is the Greek state asset privatization agency, officials said on the sidelines of the International Monetary Fund and World Bank annual meetings in Washington.
Euro zone finance ministers meet on Monday in Luxembourg to discuss Greece’s progress and decide on the disbursement.
“They are getting there. But I am aware of at least one milestone that has not been fully met, so it is 14.5 probably that are met,” one of the officials said.
“It is possible that this is solved by Monday morning. Most ministers in the Eurogroup have lost patience with Greece, and they keep this pressure up because they believe that in Greece things can only be done under pressure. If it is not ready, they will wait,” the official said.
If Greece does not deliver in full on the reform milestones, it might not get the part of the money that it needs for clearing government arrears and would only get that when it completes the missing steps.
The ministers could then leave the decision to disburse the remaining amount to the euro zone bailout fund ESM.
“They may get 1.7 billion on Monday, but they may end up getting the whole 2.8 billion,” a second senior euro zone official said.