CNN: Greece delays IMF payment as cash runs short
The heavily indebted country has postponed a payment to the International Monetary Fund, underlining how urgently it needs its creditors to release more bailout funds to avoid default and possible exit from the eurozone.
Athens was supposed to pay the IMF about 300 million euros on Friday, but said Thursday it would bundle all the payments due this month into one. That means Greece now owes the fund 1.54 billion euros ($1.7 billion) by June 30.
IMF rules allow borrowers to combine payments of principal due in a calendar month, but the provision has been used only once before -- by Zambia in the mid-1980s.
WNU Editor: Greece .... for all intents and purposes .... is now technically in default. An indication to me on their desperation is that they are apparently looking at Russia for help (again) .... Greece crisis live: borrowing costs soar as Athens looks to Moscow (The Telegraph) .... but the problem is that Greece owes hundreds of billions of dollars, and they need/want billions and billions more .... Russia is not going to support such a situation unless their loans are fully backed and guaranteed .... but the problem is that Greece is completely tapped out.
More News On Greece Missing Its First IMF Debt Payement
Greece vows not to leave the euro after IMF payment defiance - live updates -- The Guardian
Greece's Gamble Delaying IMF Payment Roils Markets -- AP
IMF allows Greece to bundle June debt payments -- Deutsche Welle
Greece delays 5 June IMF debt payment -- BBC
Greece's Delay Hurts Markets -- US News and World Report
Tsipras and Greece Buy Time From I.M.F. -- NYT
Greece Raises Stakes in Showdown as Payment to IMF Deferred -- Bloomberg
Greece Postpones Payment to IMF -- Reuters
Greece's bailout talks are getting even more sour — and snap elections could be round the corner -- Business Insider
Greece PM Tsipras to face MPs' anger over debt talks -- BBC