World Economy

Greece to Present Reforms Draft to Creditors

Greece to Present Reforms Draft to CreditorsGreece to Present Reforms Draft to Creditors

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.

The draft bill is expected to include measures proposed by Finance Minister Yanis Varoufakis during the negotiations with creditors, which have dragged on for over three months and raised concerns the country might not get the loans in time to avoid a debt default, AP reported.

The bill will be discussed with representatives of the International Monetary Fund, European Central Bank and European Commission, dubbed the Brussels Group, at a meeting in the Belgian capital on Thursday, two government officials said.

The draft was expected to be discussed during a Greek Cabinet meeting set for Thursday afternoon.

Officials from the eurozone’s finance ministries, the Commission and European Central Bank, known as the Euro Working Group, would be meeting late Wednesday.

“The aim of the negotiation at all levels is the achievement of a mutually beneficial agreement,” one official said, speaking on condition of anonymity in accordance with government regulations. “The Greek government is optimistic that this will be achieved soon.”

Deputy Prime Minister Yannis Dragasakis said he believed the two sides would reach at least an interim agreement in the first few days of May.