On Wednesday, 5.7 billion euros, out of the total tranche of 6.7 billion euros approved by the European Stability Mechanism (ESM), will be disbursed. 3.3 billion euros out of this amount will be used to service the country’s borrowing needs, 500 million euros will be used to settle the outstanding financial obligations towards the State, while 1.9 billion euros will be used as a “safety pillow”, which will help Greece to achieve a clear, sustainable exit from the program after its end in August.

The remaining 1 billion euros of the tranche will be disbursed after April under two conditions: if there is progress in the decrease of the reserve of the outstanding financial obligations towards the State and if electronic auctions continue, supervised by the Institutions.

 

Translation: Eleni Gogou