Greece Close to Securing Crucial Bailout Funds

The biggest guarantee that Greece and its creditors will finally reach an agreement on its debt burden is the upcoming payment deadlines that will force through a deal, an IMF official has told CNBC.

European creditors and technical teams from the International Monetary Fund (IMF) have been unable to agree on certain economic forecasts – key to determine how to make the Greek public debt more sustainable.

Sensitive political issues, including the upcoming election in Germany, have also delayed the process. But, according to the IMF official, who has knowledge of the talks but didn’t want to be named due to the sensitivity of the issue, the upcoming July repayments that Greece owes to creditors will ensure an agreement will be reached in about three weeks’ time.

CNBC

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam