Greece Pledges To Do Anything To Prevent Bankruptcy
With the large loan payment to the International Monetary Fund pending on April 9th, the Finance Minister of Greece, Yanis Varoufakis declared that his country “intends to meet all obligations to all its creditors, ad infinitum”, in Sunday.
After a meeting Varoufakis has with the International Monetary Fund’s official, he told the press that his government intends to “reform Greece deeply” and that they want to increase the “efficacy of negotiations” with the lenders.
Greece was forced to improvise and loan money from state entities, as the last tranche of the bailout money came in August 2014. Hoping to unlock the bailout funds, Greece has proposed a new reform list package last week, but the European Union and the International Monetary Fund are demanding more from the Greek government.
The IMF loan repayment is due this Thursday, with Greece having to come up with around 450 million Euros. However, the Greek interior minister said that the government would prioritize the pensions and the wages, and not the due loan repayment, but was promptly confuted by the government.
After he meeting with the Greek Minister of Finances, Christine Lagarde, the Managing Director at IMF said that she is pleased to hear that the 450 million Euros loan repayment would be made before the deadline. “I welcomed confirmation by the minister that payment owing to the Fund would be forthcoming on April 9th,” Lagarde stated. Lagarde expects the negotiations between Greece and the lenders to “resume promptly on Monday.”