June 21, 2018 / 10:30 PM / a year ago

Euro zone finance ministers reach debt relief deal on Greece

LUXEMBOURG (Reuters) - Euro zone finance ministers reached a deal on debt relief for Greece, two euro zone officials said on Friday.

“We have a deal,” one official involved in the negotiations said, adding it would be credible for markets. A second official confirmed the ministers had reached a deal.

Officials said the debt relief involved an extension of maturities and grace periods on loans granted to Greece under the second bailout by 10 years.

Greece would also get a 15 billion euro last disbursement to help it build a cash buffer that would make it more independent of market borrowing for long after it exits the bailout on Aug. 20.

Reporting By Renee Maltezou and Francesco Guarascio

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