Greek Prime Minister Alexis Tsipras praised on Friday a decision by EU lenders to unlock another payout of bailout funds for the cash-strapped nation, saying it was a step toward recuperation.
“Today Greece is turning over a new leaf. We have a deal that corresponds to the sacrifices of the Greek people. With unity and determination we move toward fair growth and the healing of the wounds inflicted by the crisis,” Tsipras tweeted.
The 19-nation Eurogroup agreed at a meeting with Luxembourg to disburse 8.5 billion euros (almost $9.5bln) to help Athens repay loans maturing next month. The IMF said it was willing to step in if EU creditors gave their debt relief assurances.
Greece has been experiencing a financial crisis since 2010. The country has received several bailout payments provided by the European Commission, European Central Bank and the IMF in exchange for implementing a number of austerity reforms. But the loans have only increased the country’s huge debt.
The second review of the third Greek bailout program worth about 86 billion euros ($97.3 billion) is currently underway.