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Greece has refused to repay the debt to the IMF on time

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Greece has refused to repay the debt to the IMF on time

Post by Admin on Mon Jun 29, 2015 3:39 pm

Greek Economy Minister Giorgos Statakis confirmed that the country will not pay on June 30 the International Monetary Fund (IMF) debt of 1.55 billion euros. It is reported by the Financial Times on Monday, 29 of June.

When asked Statakisa FT edition, is it true that Greece will not pay, he replied in the affirmative, the newspaper said.

Failure to pay the debt on time could lead to a default of the country. Nevertheless, the rating agency said that the non-payment of this amount, the IMF will not be formally in default, and the European Central Bank (ECB) is unlikely to decide that it does Greece bankrupt.

The head of the IMF Christine Lagarde "has notified the Executive Board of the IMF on the inconclusive results of the recent discussions the problems of Greece, held in Brussels," according to a press release on the official website of the fund. It also expressed its willingness to continue to cooperate with the Greek authorities and European partners to address the economic problems of Greece.

Recently, the Eurogroup has refused to renew the program of aid to Greece, which expires on 30 June. Thus, by Tuesday the country has to pay the IMF almost 1.6 billion euros, or declare a default. Greece's total debt is more than 340 billion euros.

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