Sunday, May 24, 2015

Report: Greece will not make June IMF Payment

by Bill McBride on 5/24/2015 11:30:00 AM

From the WSJ: Greece Won’t Meet IMF Repayments in June, Interior Minister Says

Greece said Sunday that it won’t have the money it is due to repay to the International Monetary Fund next month unless it strikes a deal with international creditors over further rescue funding.

Interior Minister Nikos Voutsis told privately owned television station Mega that Greece is scheduled to repay €1.6 billion ($1.76 billion) to the IMF between June 5-19, but the payments cannot be met.

“This money will not be given,” he said. “It does not exist.”