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Greece Gets Fresh Loan Payout as Euro Area Looks to Help on Debt

  • Euro area approves 1.1 billion-euro payout at Monday meeting
  • Dijsselbloem says he wants clarity on IMF’s role in bailout
Greek Prime Minister Alexis Tsipras.

Greek Prime Minister Alexis Tsipras.

Photographer: Sakis Mitrolidis /AFP via Getty Images
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The euro area authorized a 1.1 billion-euro ($1.2 billion) payment to Greece and signaled a further 1.7 billion euros would follow this month, saying the region’s most indebted nation has made progress in overhauling its economy.

The green light, given by euro-area finance ministers on Monday in Luxembourg, removes a hurdle on Greece’s path to debt relief on which Prime Minister Alexis Tsipras has staked part of his political future. The country had to fulfill 15 conditions on matters such as selling state assets and improving bank governance to get the first payout.