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Greece Warns That It May Default On IMF Loan Next Week, Kathimerini Says

Greece, EUAccording to a report from Greece’s Kathimerini, Greece has warned that it may default on payment of its loan from the International Monetary Fund (IMF).

According to the report from Kathimerini, Greek State Minister for Coordinating Government Operations, Alekos Flambouraris raised concerns that Greece “might delay payment to the International Monetary Fund if it cannot find the necessary money.”

Greece is due to pay the IMF 1.6 billion euros next month, however Flambouraris said that Athens might ask to delay this payment for two months, the report said.

The report stated that Greece has a total of 7.27 billion euros in obligations next month of which 4.6 billion euros is in treasury bills (T-bill) that are set to be rolled over. The government’s first T-bill issue will have to take place by Thursday as 1.6 billion euros has to be rolled over the following day.

The German Parliament on Friday is set to approve the extension to Greece’s loan agreement, which includes another 7.2 billion euros in loans.

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