September 14, 2018 / 10:25 AM / 2 months ago

Debt relief will help Greece repay 'in the medium term' - ECB chief

European Central Bank (ECB) President Mario Draghi speaks during the news conference following the governing council's interest rate decision at the ECB headquarters in Frankfurt, Germany July 26, 2018. REUTERS/Kai Pfaffenbach

FRANKFURT (Reuters) - The debt relief granted by euro zone governments to Greece will increase the country’s ability to repay its dues “in the medium term”, the president of the European Central Bank, Mario Draghi, said in a letter published on Friday.

“We welcome the agreement reached by the Eurogroup on 22 June, which we believe will improve debt sustainability in the medium term,” he said in a letter to a member of the European Parliament.

“We also welcome the Eurogroup’s readiness to consider further debt measures in the long term in case adverse economic developments were to materialise.”

Reporting by Francesco Canepa; editing by Andrew Roche

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