IMF: Another Greek bailout will cost €52bn July 2, 2015 Bailing out Greece for another three years will cost €52bn, the International Monetary Fund (IMF) said today, as Greeks prepared to vote on reform proposals by the country's creditors. A new debt sustainability analysts by the IMF showed interest payments will cost €4.9bn over the next 12 months, rising to €17.2bn over the next three [...]
Greek debt crisis: Greece finally in arrears as it fails to meet deadline for IMF payment June 30, 2015 Greece has officially become the first Western country to go into arrears on its debt to the International Monetary Fund (IMF) after failing to meet last night’s deadline for a repayment of €1.5bn (£1bn), despite a last-ditch attempt to reach a deal with its creditors yesterday. The IMF confirmed late last night that the [...]
Greece has missed its deadline to repay €1.6bn to the IMF June 30, 2015 Just as all the markets expected, Greece has not met its deadline to repay €1.6bn (£1.1bn) to the IMF. Read more: Germany won't discuss Greek bailout deal until after Greek referendum The amount, which constituted a bundle of loan repayments from the month of June, was due by 11pm on Tuesday evening. Greek [...]
Greece could face a huge shortage of life-saving medicines if it defaults on today’s IMF payment June 30, 2015 If Greece defaults on its €1.6bn (£1.14bn) repayment to the IMF today, the country could end up suffering a serious shortage of life-saving medicines. Read more: This Londoner is crowdfunding a Greek bailout fund on Indiegogo In a letter written to the European Commission, the European Federation of Pharmaceutical Industries and Associations (EFPIA) called [...]
European markets begin second day of falls as Greece confirms it won’t make today’s IMF payment deadline June 30, 2015 The FTSE 100 was 0.6 per cent down in late morning trading today, after Greece confirmed last night it will definitely miss today's 6pm deadline to pay the International Monetary Fund (IMF) €1.6bn (£1.1bn). Read more: George Osborne vows to help Britons hit by Greek crisis Meanwhile, although both the Cac and the Dax fell, [...]
Greece will default on its €1.6bn repayment to the IMF today June 30, 2015 Greece will not pay the €1.6bn (£1.14bn) it owes to the IMF today, Athens has confirmed Read more: How Twitter became Alexis Tsipras’ secret weapon in Greek negotiations The beleaguered country is required to make the repayment to its creditor by 11pm on 30 June, after saying it would bundle all its payments for the month [...]
Greek debt crisis: IMF head Christine Lagarde says Eurozone is “in strong position” June 28, 2015 The head of the International Monetary Fund has expressed confidence in the Eurozone's ability to manage the ongoing Greek debt crisis. Christine Lagarde said Europe is in "a strong position to respond to developments in a timely and effective manner, as needed" in a statement, following the Greek government's backing of a referendum on a [...]
With no deal yet, has the IMF compromised its credibility in its handling of Greece’s bailouts? June 25, 2015 Vicky Pryce, chief economic adviser at CEBR, says Yes Greece was the IMF’s biggest rescue ever. The austerity measures it imposed may have worked for developing countries that could devalue, but they were not appropriate for a developed country like Greece, a member of the Eurozone. The IMF admitted in a 2013 study that it [...]
IMF will “not extend Greece repayment deadline” if it fails to pay on 30 June June 25, 2015 The International Monetary Fund (IMF) will not extend a repayment deadline for Greece if it fails to pay up on 30 June, the organisation's spokesman said today. Read more: Eurogroup negotiations break up "indefinitely" During a bi-weekly press conference, Gerry Rice said the fund would not extend the repayment deadline, even if a deal was [...]
Greek official: Athens cannot pay the €1.6bn it owes the IMF June 18, 2015 Greece cannot pay the IMF the €1.6bn (£1.2bn) it owes, the government has admitted. Speaking to Reuters, one of Greece’s top negotiators, Euclid Tsakalotos, said Athens was willing to make concessions, but would not cross any of its red lines, such as cuts to pensions. He said: There is no financing. We haven’t got access [...]