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Παρασκευή, 08 Ιουνίου 2018 23:34

45.9 bln euros disbursed to Greece so far by third bailout

Greece has so far received 45.9 billion euros, out of an approved credit line of 86 billion euros, part of the third bailout agreed to in August 2015 with the Tsipras coalition government.

Greece has so far received 45.9 billion euros, out of an approved credit line of 86 billion euros, part of the third bailout agreed to in August 2015 with the Tsipras coalition government.

The figure includes the last tranche of ESM loan money to flow into Greek state coffers, i.e. March 28, 2018.

Another one-billion-euro sub-tranche remains to be disbursed until June 15, money earmarked for covering the state's arrears to the private sector.

Overall, another 11.7 billion euros will be disbursed before the third bailout concludes in August 2018, but only after a fourth review is completed.

What's left over is 27.4 billion euros in ESM loan money, a hefty sum that, according to sources that spoke to "N", is now on the negotiation table with creditors.

One "scenario" that emerged late this week is to use the 27.4 billion euros remaining in the third memorandum to refinance maturities in the short term - until 2021 to 2022. A much enhanced "cash buffer" would also ostensibly guarantee that Greece's debt is serviced without difficulties over the next two to three years - regardless of conditions affecting sovereign borrowing markets.