Tuesday, June 30, 2015

Greece has asked the IMF to postpone payment due Tuesday – lalibre.be

The Greek Deputy Prime Minister Ioannis Dragasakis said Tuesday on state television ERT Greece had asked the IMF postponed the repayment of some 1.5 billion euros by 2200 GMT due to the International Monetary Fund ( IMF).

“We have submitted to the IMF a request that it take the initiative to defer payment in November,” said Mr. Dragasakis, which would allow Greece to avoid defaulting on its vis-à-vis debt of the institution of Washington and aggravate an already critical financial situation.

Greece and used a provision of the IMF charter that allows “to the request of a member state “without vote” reporter “the date of a refund within the limit of 3 to 5 years, which corresponds to the lifetime of its loans.

This possibility has been used twice in the IMF’s history, each time in 1992 and for two poor countries: Nicaragua and Guyana, the former British Guyana.

The country and escape an exceptional situation and lackluster: to become the first industrialized country to default vis-à-vis the IMF, which would result immediately stripped of access to the resources of the ? institution.

Meanwhile, the IMF avoid damage to its reputation and credibility of its future aid plans.

The break last week, negotiations between Greece and its creditors on continued funding of the country had nullified any hopes that Greece will reimburse this amount it is not on hand. “How to pay the IMF while banks have been completed asphyxiation?”, Had decided on Monday Prime Minister Alexis Tsipras.

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