Greece Transfers 448 Million Euros To The IMF
The International Monetary Fund’s April 9th deadline has been met, as Greece transferred 448 million Euros to the IMF, alleviating the worries about Greek bankruptcy and leaving the Eurozone.
One of the senior officials of the Greek Finance Ministry said to ANA, Greek news agency, that “The tranche of €448 million has been delivered to the IMF.” Greece found a way to pay the IMF, although numerous experts expected the country to fail in the attempt, and possibly even be pushed out of the Eurozone. The payment has caught the Greek Prime Minister, Alexis Tsipras in Russia, where he is on a two day official Moscow visit. He stated on Thursday that the focus of the Greek government is on keeping the county in the Eurozone, and finding a solution to the economic problems that will be beneficial for the entire Europe. He told the students of the Moscow State Institute for International Affairs that “The purpose of our government is that Greece remained in the Eurozone, we are looking for a common European solution to this problem.”
The reform proposals will have to be revised in the next six days, as the Eurozone deputy finance ministers expect the Greek government to come up with an acceptable solution which would unlock the next tranche of the bailout money. Ekathimerini, the Greek newspaper reported that “A deadline of six working days was given to the Greek side to present proposals that can be acceptable by creditors.”
The latest reform list proposal that the official Athens proposed was harshly criticized by the lenders, and was dubbed too vague. The proposed measures weren’t thought of as being concrete enough, by the investors and the IMF.
The next repayment is due in May, and the figure the Greek government must come up with is even larger – 768 million Euros. If the deal with the investors is reached, and an adequate reform list is proposed, Greece could expect a 7.2 billion Euros in financial aid by June.