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Eurogroup commends Greece's economic reforms

President of the Eurogroup Mario Centeno
President of the Eurogroup Mario Centeno
BRUSSELS, March 12 (KUNA) -- Eurogroup finance ministers meeting on Monday commended Greece for completing the third review by the EU's permanent bailout fund, called the European Stability Mechanism (ESM).
"Work on the fourth and last review is already under way with the institutions. This progress shows Greece's strong commitment to the programme and to continued reforms," Mario Centeno, President of the Eurogroup, told a press conference after the meeting this evening.
The ESM Board of Directors is now expected to approve the first disbursement of the fourth tranche, a total of 5.7 billion euro (USD 7 billion), in the second half of March, he noted.
"We have now entered the final stages of this ESM programme and I'm confident that Greece will implement all remaining deliverables to conclude the programme successfully", he added.
Today's meeting also prepared the euro summit to be held later in March, announced the Eurogroup chief. (end) nk.ibi