Date
14 December 2017
A worker adjusts flags ahead of a meeting between Greek Prime Minister Alexis Tsipras and European Commission President Jean-Claude Juncker at the EU Commission headquarters in Brussels on June 3. Photo: Reuters
A worker adjusts flags ahead of a meeting between Greek Prime Minister Alexis Tsipras and European Commission President Jean-Claude Juncker at the EU Commission headquarters in Brussels on June 3. Photo: Reuters

Greece delays IMF debt payment

Greece has told the International Monetary Fund (IMF) that it will delay a 300 million euro (US$338 million) debt repayment that is due on Friday and that it will bundle all four of its June payments together, BBC reported.

The leftist government, led by Prime Minister Alexis Tsipras, plans to bundle the payments due this month into a single 1.5 billion euro chunk which is now due on June 30.

The move came as Tsipras is trying to reach a deal to unlock final bailout funds before Greece runs out of money.

It was the first time in five years of crisis that Greece has postponed a repayment on its 240 billion euro bailouts from euro zone governments and the IMF.

The delay could be a negotiating tactic aimed at putting pressure on the IMF and the EU in negotiations over the bailout.

German Chancellor Angela Merkel said talks with Greece on a cash-for-reforms deal were still far from yielding an agreement.

Greece needs to clinch a deal to unlock fresh funds before a bailout program with the EU and IMF expires at the end of June.

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