Russian Ice Hockey Federation to wage ruthless war on doping abuseSport July 26, 19:53
Two Siberian residents jailed for killing three zoo birds in failed barbeque attemptSociety & Culture July 26, 18:43
Moscow slams Western media allegations about alleged Russian support for TalibanRussian Politics & Diplomacy July 26, 18:31
Ex-Georgian president Saakashvili stripped of Ukrainian citizenshipWorld July 26, 18:25
Russia bolsters military potential in South to respond to emerging threats — defense chiefMilitary & Defense July 26, 16:09
Moscow to frame stance on new sanctions once US bill becomes lawRussian Politics & Diplomacy July 26, 16:03
Kazakhstan hopes to develop its own module for joint space station with RussiaScience & Space July 26, 15:34
EU diplomats move to slap more sanctions on Russia over Siemens turbines furorBusiness & Economy July 26, 15:11
London court binds Ukraine to pay par value of Eurobonds to RussiaBusiness & Economy July 26, 15:05
WASHINGTON, July 1. /TASS/. The International Monetary Fund (IMF) announced that Greece failed to repay its 1.6 billion euro debt [$1.78 billion] to the global financial regulator as the deadline expired on June 30 at 18.00 Washington time [22:00 GMT].
IMF Spokesman Gerry Rice said that Greece would be able to receive further financial assistance from the global regulator after the country clears its 1.6 billion euro debt.
Since 2010, when Greece’s sovereign debt crisis broke out, Athens received 240 billion euros in two tranches of bailout loans from the EU and the International Monetary Fund [IMF].
Despite a partial debt write-off in 2012, Greece’s sovereign debt exceeded 315 billion euros or 175% of its GDP up to date. This figure was almost three times the debt-to-GDP ratio set for the eurozone countries, which should not exceed 60% of GDP according to the EU’s Stability and Growth Pact.
Greece was scheduled to repay the 1.6 billion-euro loan to the IMF on June 30, which was just an interest payment at a reduced rate. Greece also had the chances of rescuing the situation by resorting to the 7.2 billion-euro loan intended for Greece as part of the second international macro-finance assistance program.