BRUSSELS ? Eurozone finance ministers say Greece will get its next batch of aid money, likely by mid- November, saving the country from a potentially disastrous default.
The ministers said Friday that Greece would get the next euro8 billion ($11 billion) batch as long as the International Monetary Fund signs off on its part in coming weeks.
The ministers also said that they were working on a second rescue package for the debt-ridden country, which would include new aid money and contributions from the private sector.
They did not give details on the new package.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.
BRUSSELS (AP) ? A report by Greece's international creditors on the country's ability to repay its debt says Athens won't be able to raise money on financial markets until 2021, unless banks take steeper losses on their bondholdings.
A person familiar with the report says a deal reached with banks in July to give Greece easier terms on its bonds would leave it with a debt of 152 percent of economic output in 2020.
The person says the analysis includes a "more realistic" assessment of growth, privatizations and deficits.
The person spoke on condition of anonymity, because the report is confidential.
A German official said earlier that Berlin was now pushing for a new deal with Athens' private creditors that would reduce Greece's debt to some 120 percent of GDP by 2020.
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