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8/11/15

Greece & lenders agree on bailout terms with European Commission and IMF

On Tuesday, the Greek Finance Ministry said its government and the international creditors managed to agree on the two major issues – a new privatization fund that will accumulate state assets worth around €50 billion over the next 30 years and the game plan to tackle the problem of overdue loans totaling €90 billion.

Negotiations on the technical agreement will conclude later on Tuesday. European Commission President Jean-Claude Juncker will speak with French President Francois Hollande and German Chancellor Angela Merkel later today, FT reports.

Earlier, it was reported that the two sides had agreed on a target for 2015 of a primary budget deficit of 0.25 percent of GDP, moving to a primary surplus in 2016 of 0.5 percent of GDP. In 2017, the primary surplus target is 1.75 percent, rising to 3.5 percent in 2018, ANA news agency reported.

On Tuesday, the Greek Finance Ministry said its government and the international creditors managed to agree on the two major issues – a new privatization fund that will accumulate state assets worth around €50 billion over the next 30 years and the game plan to tackle the problem of overdue loans totaling €90 billion.

Negotiations on the technical agreement will conclude later on Tuesday. European Commission President Jean-Claude Juncker will speak with French President Francois Hollande and German Chancellor Angela Merkel later today, FT reports.

Earlier, it was reported that the two sides had agreed on a target for 2015 of a primary budget deficit of 0.25 percent of GDP, moving to a primary surplus in 2016 of 0.5 percent of GDP. In 2017, the primary surplus target is 1.75 percent, rising to 3.5 percent in 2018, ANA news agency reported.

Read more: Greece & lenders agree on bailout terms – European Commission — RT Business

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