Germany says payment of Greek aid may be delayed

Germany says payment of Greek aid may be delayed

The Greek government is racing to complete a list of reforms demanded by its international lenders before they unlock a payment from the country’s 173-billion-euro ($228.1 billion) financial rescue package.

Euro zone finance ministers agreed earlier this month to unlock 4 billion euros in financing due to the Greek government — provided Athens moved to trim government payrolls and adopt other measures demanded by its creditors by July 19. Further payments are supposed to come from the International Monetary Fund in August and then from Greece’s euro-zone partners again in October.

In his letter to the Bundestag, Deputy Finance Minister Steffen Kampeter cited the commission as saying Greece has completed 17 of 22 measures required, but the commission has not yet been able to inspect five remaining actions.

Kampeter said the commission would update the German government on the situation on Wednesday. There was no comment from the European Commission.