• World
  • Columnist
  • Commodities
  • WORLD BUSINESS & ECONOMY
  • Executive Knowledge Series
  • Finance
  • Manufacturing
  • Markets
  • Risk & Governance
  • Small Business
  • Technology, Media & Innovation
  • Comments
  • Business AM WebTV
  • Login

Businessamlive
  • FRONTPAGE
  • FINANCE
    • AllAsset ManagementAuditBankingBondBudgetCapital MarketsC&I LeasingCurrencyDealDebt marketForexFund RaisingFundingGovernmentHedge FundsInsuranceInvestmentInvestorInvestor ServicesMergers & AcquistionsMoney marketTreasury BillsMortgagePensionsPersonal financePonziQuantitative EasingshareTaxationTSAWealth Management
      Finance

      How MPC left policy rates unchanged to mitigate COVID-19 impact on Nigerians

      3 hrs

      Finance

      Decent first 2021 auction for DMO, but drive to finance FGN deficit still poses a challenge

      23 hrs

      Finance

      Exposing Nigeria’s vulnerabilities: Covid-19, crude oil downsides from weak global macro environment

      24 hrs

      Finance

      Nigeria, Africa remittances on target as Wari, Lycaremit sign partnership

      January 21, 2021

  • MARKETS
  • ECONOMY
    • AllAfricaAgricAirportsAmericaAsiaAustraliaBreakthroughDealEuropeForeign InvestmentsforexGlobal marketGovernanceIMFMiddle EastNECANigeriaOutlookRich listSouth AfricaSport BusinessTradeU.KWest AfricaWorld Economic forum
      Africa Investment Forum

      Davos summit: AfDB asks developed countries to fulfil $100bn yearly climate finance pledge

      6 hrs

      Frontpage

      Africa loses up to $15bn yearly from climate change, laments Adesina, AfDBchief

      8 hrs

      Technology

      Tencent $1trn market cap on hold after 11% stock surge

      8 hrs

      Frontpage

      SDG: Covid-19 magnifies financing gap in developing countries by 70%, says OECD

      21 hrs

  • COMMODITIES
  • ENERGY
    • AllConferenceElectricityOil and GasPowerRenewable
      Frontpage

      TCN chief calls out DisCos’ funding structure for power industry challenges

      3 hrs

      Oil and Gas

      Pipeline repairs cost NNPC N75.23bn in one year  

      6 hrs

      Nigeria Frontier Markets

      Port Harcourt DisCo explains meter distribution strategy

      8 hrs

      Oil and Gas

      Nigeria’s electricity DisCos create imbalance costing N20.5bn in 3 weeks  

      January 26, 2021

  • TECHNOLOGY
  • MANUFACTURING
  • ANALYSIS
    • Analyst Insight

      Misconstruing Data Protection Officer function within organisations

      January 25, 2021

      Analyst Insight

      CBN meeting and NSE in focus

      January 18, 2021

      Analyst Insight

      Once again, fiscal stimulus takes centre stage

      January 18, 2021

      Analyst Insight

      Organisations must learn from the WhatsApp story  

      January 18, 2021

Europe

Greece reaches deal with European lenders for bailout installment

June 17, 2017896 views0 comments

Greece’s European lenders agreed Thursday to release another $9.5 billion of a desperately needed bailout installment, while holding out the hope of debt relief.

All sides reached a deal in Luxembourg Thursday after months of often bitter negotiations.

The European Union’s top economy official, France’s Pierre Moscovici, said Greece has respected its commitments for economic reforms and that it is now time for its creditors to “take their’s.”

Bankruptcy looming

The Greek people need to see the “light at the end of the tunnel of austerity,” Moscovici said.

Greece has implemented more tough spending cuts and tax hikes in exchange for the bailout installment.

Without it, the country would have been facing possible bankruptcy next month.

Greece has been demanding debt relief from its creditors, saying it can never get its economy growing again without some help.

Germany, Greece’s biggest lender, has opposed restructuring the Greek debt, insisting on more austerity.

But as part of the compromise with Greece, eurozone ministers agreed to provide debt relief when the current bailout program ends next year.

Christine Lagarde, Managing Director of the IMF, attends a session on the Economic Outlook on the fourth day of the annual meeting of the World Economic Forum in Davos, Switzerland, Jan. 20, 2017.

Support from IMF

In a surprise move Thursday, International Monetary Fund chief Christine Lagarde announced she will recommend that the IMF join the Greek bailout.

The IMF was part of the first two bailouts, but refused to be a part of the third until there was some kind of debt relief.

Share on Facebook Tweet Email
TagsEurope Greece IMF lenders
PreviousHow an artificial brain could help us outsmart hackers
NextMillions of Samsung users exposed to hackers over expired domain

Leave a comment

- Cancel reply

MARKET DATA

Market Videos

Recent Posts

  • Analysts weigh up wheat price expectations, following Russian export curbs
  • Insurance fails to address 64% of global economic losses in 2020 – Aon report  
  • How MPC left policy rates unchanged to mitigate COVID-19 impact on Nigerians
  • TCN chief calls out DisCos’ funding structure for power industry challenges
  • Oak, Veritas Glanvills close in on Stanbic IBTC in RSA Fund 1 RoI for 2020

World

Africa

Buhari, Okonjo-Iweala congratulate Adesina over reelection as AfDB President

Europe

EU businesses to cut investments in 2020, says EIB report

America

U.S. increases cost of visa application for Nigerians

Africa

Thatcher-Loving Nigeria Candidate Plans to Overhaul Economy

Africa

AfDB scales up industrialization pace on the continent, delivers improved business access to finance, skills, energy

Frontpage posts

0

NNPC to boost domestic market gas delivery with launch of standard code 

Frontpage August 13, 2020

1
2

Will rising oil prices, improved public sector salary payments stem the tide of high NPLs in banks?

Frontpage June 4, 2018

3

African Development Bank to boost Nigeria’s economy with additional loans of $2bn

Frontpage January 23, 2018

4

Blackstone takes acquisitive appetite to Japanese drugmaker, Takeda

Frontpage August 25, 2020

5

We have no problem servicing Nigeria’s debt – AGF

Frontpage June 25, 2019

SUPPORT

  • Photo Gallery
  • Help Centre
  • About Us
  • Accessibility

LEGAL & PRIVACY

  • Terms & Conditions
  • Privacy
  • Cookies
  • Copyright

SERVICES

  • Conferences & Events
  • Analysts Research
  • Advertising Rate
  • Ebooks

TOOLS

  • Portfolio
  • Newsletters
  • News feed
  • Currency Converter

SUBSCRIBE

Join us to get latest updates on business related news.

[mc4wp_form id="3076"]
  • ABOUT US
  • CONTACT US
  • CAREERS
  • TERMS & CONDITIONS
  • PRIVACY POLICY
Copyright 2017. All rights reserved. BusinessAMLive. A Businessnewscorp Member Company.