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World

Eurogroup: Greece on track to exit bailout in August

Associated Press
Published | Updated
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ATHENS, Greece – Greece's creditors say the country is on track to reach a final agreement on June 21 on fully exiting its international bailout in August, and debt inspectors will return to Athens next month for one last review.

EU finance commissioner Pierre Moscovici said that Greece was essentially on track to meet its reform commitments, "but there are still a few efforts to be conducted. We will always be demanding but not concerned." He was speaking Friday in Bulgaria's capital after a meeting of finance ministers of the European Union's 19-member eurozone.

Greece is set to emerge from its third and final bailout on Aug. 20, after eight years of relying on emergency loans from creditors. Consequently, Greece has pushed through repeated rounds of deep spending cuts, structural reforms and privatizations.