Greek Interior Minister Says Country Can’t Make IMF Payment

Greece cannot make a repayment to the International Monetary Fund (IMF) due on 5 June as it does not have the money, the interior minister says.

“The four instalments for the IMF in June are €1.6bn, this money will not be given and is not there to be given,” Nikos Voutsis told Greek TV.

Greece has to come to a deal with the IMF and EU to secure the final tranche of its bailout from the institutions.

The finance minister meanwhile told the BBC that progress was being made.

via BBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza