Greece On Track for Aid Before ECB Deadline, Rajoy Adviser Says

Greece is moving quickly enough to allow its European creditors to approve a third bailout before the country’s next crucial payment to the European Central Bank comes due, according to Alvaro Nadal, chief economic adviser to the Spanish prime minister.

The euro area should be able to hand over the first disbursement from the 86 billion-euro ($93 billion) aid program in time for Greece to make a 3.2 billion-euro payment to the Frankfurt-based central bank on Aug. 20, Nadal said in an interview Tuesday at Prime Minister Mariano Rajoy’s official residence in Madrid.