BREAKING NEWS

BREAKING NEWS

Swift payment of Greek aid urged by troika - report

Now Reading:

Swift payment of Greek aid urged by troika - report

Text size Aa Aa

The European Union, IMF and European Central Bank’s ‘troika’ mission to Greece is recommending paying out a sixth instalment of aid to Athens “as soon as possible”.

That is according Reuters which has seen a draft version of the troika inspectors’ long-awaited report.

It says that recommendation comes despite the inspectors finding what they call “extremely worrying” government debt dynamics.

The draft said Greece’s economic downturn was substantially stronger than expected and mid-term growth forecasts might need revising downwards, but additional government measures on income and spending would allow Greece to reach its deficit targets in 2012, though not in 2011.