EUROZONE-GREECE/IMF Greece becomes first advanced economy in arrears to IMF

Record ID: 149042

  • Title: EUROZONE-GREECE/IMF Greece becomes first advanced economy in arrears to IMF
  • Date: 30th June 2015
  • Summary: WASHINGTON D.C., UNITED STATES (JUNE 30, 2015) (REUTERS) IMF SYMBOL ON WALL PAN UP OF IMF BUILDING EXTERIOR OF IMF BUILDING
  • Embargoed: 15th July 2015 13:00
  • Keywords:
  • Topics: General
  • Reuters ID: LVAE7QZ767F8UARQ3HA835J1TTBD
  • Aspect Ratio: 16:9
  • Story Text: The International Monetary Fund on Tuesday (June 30) confirmed Greece had not made its 1.5 billion euro loan repayment to the Fund, making it the first advanced economy to ever be in arrears to the Fund.
    The missed payment, the largest in the Fund's history, is equivalent to a default, in that both imply a breach of Athens' obligations. IMF spokesman Gerry Rice said, in a written statement, Greece can now only receive further IMF funding once the arrears are cleared.
    Rice confirmed that Greece had asked for a last-minute repayment extension earlier on Tuesday, which the Fund's board will consider "in due course."
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2015. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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