Greece readies €750 million IMF Repayment: Reports

The Greek government has “executed” the order to make a scheduled loan repayment of 750 million euros ($837 million) to the International Monetary Fund on Tuesday, Reuters reported on Monday, citing a Greek finance ministry official. Greece is close to running out of money, so there had been fears the country would struggle to find enough cash to meet that IMF debt obligation.

The government has been negotiating with its international lenders for months on a reform program, but so far the two sides have not been able to hammer out a deal. An agreement on economic overhauls is necessary for Athens to unlock the next tranche of much-needed bailout cash.

The Eurogroup of eurozone finance ministers is meeting in Brussels on Monday in an attempt to move closer to a reform deal. However, expectations were low ahead of the meeting that an agreement will be reached this time.

Source: MarketWatch