Greece makes loan in­ter­est pay­ment to IMF

Kathimerini English - - Focus -

Greece made a loan in­ter­est pay­ment due Thurs­day to the In­ter­na­tional Mon­e­tary Fund, the in­sti­tu­tion said, avoid­ing another de­fault as the debt-rid­dled coun­try ne­go­ti­ates a third res­cue plan. “Greece has paid the in­ter­est charges due to the IMF to­day,” which came to about 186.3 mil­lion eu­ros, the In­ter­na­tional Mon­e­tary Fund said in a state­ment. It was the first time since early June that Greece had met the dead­line for its loan pay­ments to the IMF. Cash-strapped Greece missed a 1.5-bil­lion-euro re­pay­ment on June 30, be­com­ing the first de­vel­oped coun­try to de­fault on an IMF loan. Less than two weeks later, Greece missed a 456-mil­lion-euro pay­ment to the IMF. When it first de­faulted at the end of June, the IMF froze Greece’s ac­cess to its re­sources, in­clud­ing the Fund’s on­go­ing fi­nanc­ing pro­gram for the coun­try. How­ever, on July 20, Greece paid the IMF about 2 bil- lion eu­ros in ar­rears, af­ter it re­ceived an emer­gency bridge loan from the Euro­pean Union, restor­ing its el­i­gi­bil­ity for IMF fi­nanc­ing. Af­ter Thurs­day’s pay­ment to the IMF, Athens still owes about 22 bil­lion eu­ros, ac­cord­ing to the Washington-based in­sti­tu­tion’s web­site. The next IMF pay­ment, of about 307 mil­lion eu­ros, is due on Septem­ber 1.

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