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Greece pledges to repay €450 million loan tranche to IMF today

April 09, 2015, 10:25 UTC+3 ATHENS
At talks on April 5-6 with IMF and US Treasury Department, Greece’s finance minister pledged that Athens will fulfill its financial obligations
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© EPA/ORESTIS PANAGIOTOU

ATHENS, April 9. /TASS/. Greece will repay a €450 million loan tranche to the International Monetary Fund (IMF) on time today. At talks on April 5-6 with IMF and US Treasury Department, Greece’s finance minister pledged that Athens will fulfill its financial obligations.

On April 24, Greece will hold talks with the European Union at the meeting of the union’s finance ministers in Riga about the €7.2 billion loan tranche. By June, Athens also plan to finish talks on restructuring its foreign debt of €324 billion (178% of GDP). However, creditors think that cash-strapped Greece will run out of funds by mid-May and face even more serious problems with liquidity in June.

International creditors have not transferred loan tranches to Greece from August 2014 as Athens repays its debt on time. Greece made it clear for the EU and IMF that it will not service the state debt at the expense of domestic reserves if creditors fail to transfer loan tranches they have been delaying since 2014.

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