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World

Greece working on draft bill in hope of unlocking vitally needed bailout installment

Associated Press
Published | Updated
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    People use ATM machines outside a National Bank of Greece branch in the northern port city of Thessaloniki , Greece, Wednesday, April 29, 2015. Greece is to present a draft bill of reforms to creditors Wednesday in the hope it will earn their approval and pave the way for the unlocking of vitally needed bailout funds. (AP Photo/Giannis Papanikos) (The Associated Press)

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    A man walks past a Greek flag in the central market of the northern port city of Thessaloniki , Greece, Wednesday, April 29, 2015. Greece is to present a draft bill of reforms to creditors Wednesday in the hope it will earn their approval and pave the way for the unlocking of vitally needed bailout funds. (AP Photo/Giannis Papanikos) (The Associated Press)

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    A woman checks products inside a shop at the northern port city of Thessaloniki, Greece, Wednesday, April 29, 2015. Greece says it will discuss with its creditors on Thursday a draft bill of reforms it hopes will earn their approval and pave the way for the unlocking of vitally needed bailout funds. (AP Photo/Giannis Papanikos) (The Associated Press)

ATHENS, Greece – Greece is working on a draft bill of reforms it hopes will earn the approval of its creditors and pave the way for the unlocking of vitally needed funds from its international bailout.

Athens is expected to present the draft bill, which will include measures proposed by Finance Minister Yanis Varoufakis during the government's current floundering negotiations, to representatives of the International Monetary Fund, European Central Bank and European Commission on Wednesday.

The exact reforms have not been publicly announced, but are expected to include reforms to some tax measures. Athens hopes they will be sufficient for its creditors to approve the disbursement of the final 7.2 billion euro ($7.9 billion) installment from its 240 billion euro bailout.