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Greece Might Sidestep June 5 IMF Deadline
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26.05.2015
Cash-strapped Greece could avoid paying back the IMF on June 5 without defaulting if it lumps together all IMF repayments due in June and pays them at the end of the month. This would also win Athens more time to negotiate a funding deal. Greece has to repay the International Monetary Fund 300 million euros on June 5, the first of four installments due in June that total 1.6 billion euros. Cut off from markets, Athens has said it will not be able to make the June 5 payment without new loans from the euro zone, which insists it can only lend Greece more if the country agrees to reforms that would make its debt sustainable.
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