Greece Clinches Deal with Lenders on New Batch of Prior Actions

Greece Clinches Deal with Lenders on New Batch of Prior Actions

The Greek government agreed on Friday evening with the representatives of the institutions on a new batch of prior actions which will unlock a sub-tranche of the country’s loan.
The relevant draft bill is expected to be submitted to parliament on Saturday, so that it can be voted on Tuesday evening. After it is voted, the Euroworking Group (EWG) will approve the disbursement of the remaining 1-billion-euro tranche.
The agreement includes provisions on the non-performing loans of businesses with a turnover above 5 million euros, as well as the framework for the operation of the new privatization fund which will be divided in sub-divisions depending on the category of state assets for sale, as well as the new payroll for the state sector.
Government sources said the new payroll doesn’t include new pay cuts but provides incentives for increasing effectiveness in the public sector.


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