Greece will receive its final 15-billion-euro bailout tranche after successfully completing its fourth assessment and will exit its nearly eight-year-long aid program on August 20.
Greece clinched additional loans from its international creditors to the tune of 10.3 billion euros on Wednesday, while Eurogroup finance ministers agreed to offer debt relief extending the repayment period and capping interest rates.
"I take note of the outcome of the Greek referendum. This result is very regrettable for the future of Greece", Jeroen Dijsselbloem, head of the Eurogroup, said in a statement following a 'no' vote in a Greek bailout referendum.
The European Commission approved the release of the next tranche of debt relief to Greece, as the country prepares to exit enhanced surveillance status in August.
Greece completed the early repayment of bailout loans to the IMF two years ahead of schedule and could transit out of EU “enhanced surveillance” this summer.
The European Commission commended Greece for moving ahead with reform commitments, and said it would proceed with the release of a new tranche of debt relief.
Greece has no need to resort to European Stability Mechanism (ESM) loans to deal with the coronavirus impact, says Greek Finance Minister Christos Staikouras.
Greece could save up to 800 million euros in interest rates over the next decade, if it chooses to use the European Stability Mechanism's (ESM) credit line.
A package of relief measures for all coronavirus-hit businesses in Greece - that includes the suspension of tax contribution payments - has been announced by the government.
Transport and tourism are among the severely affected sectors in the EU that are to receive liquidity support to tackle the economic impact of the coronavirus.
