Thursday, June 4, 2015

Athens decides to delay its repayments to the IMF – The World

Le Monde | • Updated | By

Greece should make a lump sum payment of 1.6 billion euros on June 30, said the IMF.

Athens decided to give a little leeway: the International Monetary Fund (IMF) confirmed Thursday June 4 evening, he had just received a request from Athens to group its repayments to the Fund for the month of June, once the last deadline. Greece, which was to send a first check of € 300 million to the fund on June 5, and three others (€ 336 million on June 12, 560 16 and 336 19 June), so should make a global payment 1.6 billion euros on June 30, said the IMF.

The Fund has given the green light for the refund procedure exists in its statutes, even if it is rarely activated. “According to a decision of our Management Board adopted in the late 1970s, member countries [Fund] may apply to group the various repayments due over one month (this is not the case for the payment of interests loans). The decision met the administrative difficulties caused by such multiple refunds a limited period of time, “ said the IMF in its press release on Thursday.

This request for Athens IMF may surprise, the Greek authorities have heard several times in recent days, as the payment of 5 June would be assured. “Do not worry,” was launched on Wednesday, Alexis Tsipras, the Greek Prime Minister, coming out of its negotiating dinner in Brussels with President of the European Commission, Jean-Claude Juncker and President of the Eurogroup Jeroen Dijsselbloem.

Christine Lagarde, IMF Managing Director, was also declared “ confidence ” Thursday, hours before Greek request, in the fact that Athens would pay his debt at maturity of 5 June

Read also:. The role of the IMF in proportion to the Greek crisis

Does provided the request is likely to jeopardize the negotiations between Athens and its creditors (IMF, European Central Bank and European Union), who had advanced enough in recent days for an agreement appears now at hand? A priori, no, “even if it’s not very good to improve the atmosphere for negotiations. Yesterday Mr Tsipras said he would still pay 5 June … “ confided Thursday night, a source close to the negotiations.

Euroworking group, meeting of directors the treasure of the 19 countries in the euro area, to be held Thursday evening to try to iron out the last different between Athens and its creditors. The government still refuses Tsipras radical pension reform that would impose the IMF or the VAT system to two rates proposed by the creditors

And above all, the “deadline” of 30 June remains. If no agreement is reached before the 7.2 billion remaining to be paid under the second aid package for Greece which goes out on that date, “fly”. Gold, Athens, whose coffers are completely empty now has a critical need these billion

Read also:. The Greek drama blows hot and cold on Markets

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