Statement by the IMF on Greece

Press Release No.15/310

June 30, 2015

Mr. Gerry Rice, Director of Communications at the International Monetary Fund (IMF), made the following statement today regarding Greece’s financial obligations to the IMF due today:

“I confirm that the SDR 1.2 billion repayment (about EUR 1.5 billion) due by Greece to the IMF today has not been received. We have informed our Executive Board that Greece is now in arrears and can only receive IMF financing once the arrears are cleared.

“I can also confirm that the IMF received a request today from the Greek authorities for an extension of Greece’s repayment obligation that fell due today, which will go to the IMF’s Executive Board in due course.”

IMF COMMUNICATIONS DEPARTMENT

Public Affairs Media Relations
E-mail: publicaffairs@imf.org E-mail: media@imf.org
Fax: 202-623-6220 Phone: 202-623-7100

IMF for political ends, whether +ve or -ve only time will tell. Greeks should be more concerned about being kicked out the EUR, that's when they'll experience a real socio-economic rout.

The neighbors should prep. for migrant issues though with a 12Mn* popn. that should not be a problem.

This for the markets is just a blip, the press can fork & knife it for all its worth. Irrational plays can be profited too. Let's see.

Scramble for priority tickets by pensioners the max they can withdraw is 120 Euro. Most pensioners don't have ATM cards

With an ever increasing budget deficit we will one day ground.

Nigeria has oil and their budget deficit is ballooning but at least they're still able to pay pensioners. No amount of resources can save an economy if expenditure isn't prudent. What you need to ask yourself is how you and your family/ business can survive if banks were closed for 6 days and. withdrawal limited to 5000 shillings.