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Greece To Get Next Tranche Of Rescue Loan Package


Greek doctors and medical staff demonstrate against budget cuts in Athens last month, part of a two-day forum by European antiausterity groups to protest against stringent cuts applied across the continent.

Greek doctors and medical staff demonstrate against budget cuts in Athens last month, part of a two-day forum by European antiausterity groups to protest against stringent cuts applied across the continent.

Greece's international creditors will release 6.8 billion euros ($8.7 billion) in rescue loans to Greece in the coming months as they continue to support the country as it struggles to implement reforms.

The European Central Bank, the European Union, and the International Monetary Fund said on July 8 that the country's reform program -- implemented in exchange for rescue loans -- is largely on track, although it is moving too slowly.

They also warned that the country's economic outlook remained uncertain.

Despite these concerns, finance ministers from the 17 European Union countries that use the euro agreed on July 8 to release the next installment of Greece's bailout.

After years of overspending, Greece nearly went bankrupt and is now surviving on rescue loans.

Based on reporting by AP and AFP
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