5th June 2015
Greek has said it will delay today’s €300 million (£216 million) debt repayment and instead bundled together all four of its June repayments.
It told the International Monetary Fund that it would pay the €1.5 billion total on 30 June, he day its bailout deal with the IMF and the EU runs out. Prime minister Alexis Tsipras said he was trying to unlock the funds before Greece runs out of money.
The IMF said that under s 1970s precedent, governments could ask to bundled payments together ‘to address the administrative difficulty of making multiple payments in a short period’.
Tsipras, who have been in talks with the IMF on debt repayments, said that an agreement was ‘in sight’ and head of the eurozone’s finance ministers Jeroen Dijsselbloem said the gap between the two negotiating parties was ‘still quite large’.
Tspira and the international creditors have been wrangling over the ‘primary surpluses’ in the Greek economy – the amount by which tax revenues exceed public spending. Tspira has said that he would not cut pensions or raise sales tax for electricity when trying to find extra money.