Greece and its international lenders struck a deal to unlock the next tranche of loans under its rescue package on Tuesday, ending six months of negotiations that Athens called its “toughest” review since being bailed out.
The deal paves the way for Greece to repay nearly 10 billion euros of bonds due in May and bolsters expectations it could soon return to the bond markets for the first time since its debt crisis escalated four years ago.
Athens and its European Union and IMF lenders had been haggling over the bailout review since September, making it the longest inspection of the country’s finances since Greece was first rescued from bankruptcy by the creditors in 2010.
“This review was the toughest we’ve had so far,” Finance Minister Yannis Stournaras told reporters after a week of marathon talks that ended in the early hours of Tuesday.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.