Surprise Me!

Greece taps emergency funds to pay IMF debt

2015-05-12 18 Dailymotion

Greece is reportedly examining a cash for reform deal to pay its creditors as it is predicted to run out of cash within weeks.<br /><br /> A emergency IMF holding account has been emptied to repay 750-million euros due to the international lender, highlighting the dire state of the country’s finances. <br /><br /> A government official told Reuters that Athens used about 650-million euros from the holding account and 100 million euros from its own cash reserves to make the payment on Monday. <br /><br /> One economist, Charalabos Gotsis told euronews the government has to calm fears of another default.<br /><br /> “As far as wages and pensions are concerned there is no problem, as they are covered from current state revenues, on that front we are fully covered,” said Gotsis.<br /><br /> “But as far as obligations to creditors are concerned, the country disposes only enough reserves to cover the next repayments, not beyond mid-June.”<br /><br /> On Monday, Greece’s finance minister described the situation as “terribly urgent” and said a deal to

Buy Now on CodeCanyon