Eurogroup ministers back further bailout loans for Greece

EU finance ministers to release €2.8bn after Athens government carried out required reforms relating to privatising state assets, tax and pensions. Greece is on track to receive €2.8bn (£2.5bn) from its eurozone creditors by the end of October, after an agreement on Monday on the latest instalment of its multibillion-euro bailout.

A technical hitch will delay some money, but Greece and its creditors insisted this was not a problem.

Eurozone finance ministers agreed to release €1.1bn on Monday, after Athens was found to have complied with 15 reforms required for releasing the money. Ministers also gave the green light to releasing a further €1.7bn, although these funds will be held up for two weeks because of a “technical issue”.

“The money will come, don’t worry,” said Jeroen Dijsselbloem, the head of the Eurogroup, describing the delay as an unavoidable data-collection issue, not a political decision.

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