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Situation in Greece

Third aid program for Greece could reach €90 billion — source

The share of the International Monetary Fund (IMF) in that package will total €16 billion

© EPA/FOTIS PLEGAS G.

BRUSSELS, July 13. /TASS/. The volume of the third program of assistance to Greece could reach €90 billion in exchange for implementation of tough structural reforms by Athens, a source said on the sidelines of the Eurozone leaders' meeting.

The first tranche will equal €7 billion to cover first-priority demands of the country, for a regular payment to service its debt July 20.

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The source said the share of the International Monetary Fund (IMF) in that package will total €16 billion.

According to the source, the conditions for funds to be allocated will be clear and stage-by-stage implementation by Greece of the reform plan.

According to a a European diplomat, the conditions of the third assistance program for Greece will be tougher than those before the referendum on July 5, at which Greeks rejected proposals of the creditors by 61% of the votes.

"The situation is extremely complicated for the head of the Greek government, but it is inevitable in connection with deterioration of the situation in the country starting from late June, in particular, in connection with imposition of restrictions on capital movement," the diplomat said.

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