Greek Hospital Debts Settlement

In Greece, a meeting between the Health Ministry and drug industryrepresentatives has agreed that companies which supply public hospitals with medicines and parapharmaceuticals will receive all the money owed by the government within four years (Marketletters November 25 and December 23).

Until last June 30, the hospitals owed the companies 141 billion drachmas ($546.2 million), and this total increased by 15 billion drachmas at the end of November. At the meeting, held on January 23, it was agreed that 5% of the debt would be paid within a few days, with 45% paid with government bonds of a two-year duration and the remaining 55% paid with government bonds of a three-year and four-year duration.

The government spokesmen said they were committed to ensuring that the government bonds could be liquidated as soon as possible.