Creditors agree to proposal made by Greece

Report analyst group: 'Exchange rate of the euro will relatively increase'

Baku. 23 June. REPORT.AZ/ Euro zone finance ministers welcomed new Greek proposals for a cash-for-reform deal on Monday but said they required detailed study and it would take several days to determine whether they can lead to an agreement to avert a default.

Report informs EU finance ministers will gather in Brussels on June 24 resolve the crisis in Greece.

The term of financial assistance in the amount of 245 billion euros from International Monetary Fund (IMF) and the European Central Bank (ECB) ends on June 30. On the same day, Greece have to pay 1.5 billion euro to the IMF.Greece has stated that it doesn't have this amount.

Greece will be declared in default if the debt will not be paid to IMF. Athens must carry out some radical economic reforms to extend financial assistance program. Only in this case, Greece may receive additional 7.2 billion euros assistance loan.

The analyst group of Report notes that Greece will get some understanding of the term with creditors for a period of time. As a result, the euro is expected to strengthen in the world market.

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