More than 237,000 fans attend Confederations Cup matches already - Deputy PM MutkoSport June 24, 15:03
Sistema's president hopes for dialogue with Rosneft on settlement agreementBusiness & Economy June 24, 14:56
CNN deletes article about meeting between Scaramucci and Russian Direct Investment FundWorld June 24, 13:12
Ukrainian Army units shell Donetsk Republic in first hours of newceasefireWorld June 24, 5:19
Politician says Russia vs Mexico football game will be interesting to watchSport June 23, 21:11
Kyrgyz president sees revival of relations with Russia as major result of his tenureWorld June 23, 20:49
Ex-premier says initiative to impeach Poroshenko stems from Ukraine’s economy collapseWorld June 23, 20:20
This week in photos: Confederations Cup opening and summer solstice celebrationsSociety & Culture June 23, 19:11
Turkish ambassador to Russia: Moscow and Ankara to join efforts in war on terrorWorld June 23, 18:45
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.