Greece’s official lenders will be able to determine if Athens needs further debt relief only in the summer of next year, the head of Europe’s rescue fund (ESM) announced on Thursday, according to the following report by Reuters:
Klaus Regling noted that Greece “has received more debt relief in the past few years than any other country in the world”, referring to a haircut on debt held by private investors in 2012. He also said that it has benefited greatly from improved lending terms and does not have “a debt overhang for the next few years”.
Athens has received three international bailouts since 2010 and its debt currently stands at 177 percent of GDP.
Its third bailout ends in August 2018 and the issue of debt relief is expected to arise in negotiations over its bailout exit terms in the coming months.
Source: Reuters
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