Greece postpones its IMF payment

Greece has made it clear to the International Monetary Fund(IMF) that it will postpone its Friday's €300m (£216m) debt repayment and collect its four June payments together.



In fact, the last country to have bundled together payments to the IMF was Zambia and this happened in the mid-1980s.



BBC economics correspondent Andrew Walker stated that Greece’s decision to delay the payment might have been used as a “negotiating tactic” whose purpose was to put pressure on the IMF and the EU in negotiations over the bailout.



Now, the Athens government will have until 30 June which is the day on which its bailout deal with the EU and IMF will take place in order to pay the €1.5bn.



Prime Minister Alexis Tsipras is working towards an agreement to unlock final bailout funds before Greece finds itself without any money.



However, according to Greece's creditors there are still many differences between the two.



Moreover, Mr. Tsipras did not agree to elements of proposals proposed by his country's international creditors in talks with Mr. Dijsselbloem and European Commission chief Jean-Claude Juncker.



According to him, the two sides were now "very close to an agreement".



However, Mr. Tsipras also stated that there were "points that no-one would consider as a base for discussion", mentioning cuts to pensions and a raise in sales tax for electricity.



Source:BBC
Priscilla Camryn By: Priscilla Camryn
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