By Ivana Kottasova
The heavily indebted country has postponed a payment to the International Monetary Fund, underlining how urgently it needs its creditors to release more bailout funds to avoid default and possible exit from the eurozone.
Athens was supposed to pay the IMF about 300 million euros on Friday, but said Thursday it would bundle all the payments due this month into one. That means Greece now owes the fund 1.54 billion euros ($1.7 billion) by June 30.
IMF rules allow borrowers to combine payments of principal due in a calendar month, but the provision has been used only once before — by Zambia in the mid-1980s.
“Read the Full Article at money.cnn.com >>>>”
ATTENTION READERS
We See The World From All Sides and Want YOU To Be Fully InformedIn fact, intentional disinformation is a disgraceful scourge in media today. So to assuage any possible errant incorrect information posted herein, we strongly encourage you to seek corroboration from other non-VT sources before forming an educated opinion.
About VT - Policies & Disclosures - Comment Policy
Due to the nature of uncensored content posted by VT's fully independent international writers, VT cannot guarantee absolute validity. All content is owned by the author exclusively. Expressed opinions are NOT necessarily the views of VT, other authors, affiliates, advertisers, sponsors, partners, or technicians. Some content may be satirical in nature. All images are the full responsibility of the article author and NOT VT.
