Euro-zone officials back next Greek installment

International Monetary Fund expected to follow suit next week

The ministers reached agreement on their portion of the 12 billion euro ($17.39 billion) loan installment in a conference call Saturday, the group said in a statement.
The ministers also praised “the progress made by Greek authorities in implementing the policy understandings reached with the European Commission.”
In recent days, legislators in Athens approved austerity measures demanded by the EC, the European Central Bank and the International Monetary Fund.
The IMF is expected to approve its part of the loan in coming days, with Greece expected to receive the next installment by July 15.
In their statement Saturday, the ministers repeated that they would continue to back Greece beyond the 110-billion-euro rescue approved last year, but said a final decision on the next package would not come until the role of banks and other creditors has been worked out.
“The precise modalities and scale of private-sector involvement and additional funding from official sources will be determined in the coming weeks,” the statement said.