US Treasury Secretary Jack Lew pressed Greek Finance Minister Euclid Tsakalotos to push for a swift conclusion to Greece’s current bailout review so talks can be launched on finally relieving some of the country’s debt burden. The sense in Washington is that there will be no decisions until after elections in Germany scheduled for the fall of 2017. Source Ekathimerini
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Saudi Arabia’s National Water Co. is seeking financial advisers to arrange the sale of parts of the country’s water distribution network, according to people familiar with the matter. Source Gulf News
The ‘Joint Sea 2017’ drills of the Russian and Chinese naval forces have begun the first stage of major exercises, marking the first time they have taken place in Europe. Source RT
The International Monetary Fund late on July 20 approved a one-year, $1.8 billion loan program for Greece but will not release any funds until the eurozone agrees on a debt relief plan, in a highly unusual compromise step. Source: Daily News