IMF Refuses Greece
Photo from greece.greekreporter.com
IMF head Christine Lagarde refused to grant Greece a delay in payment of its debt in May, Sputnik News reports.
According to Lagarde IMF had already explained the policy of not granting delay requests to Greek Finance Minister Yanis Varoufakis after Greece informally asked for more time earlier this month.
"Payment delays have not been granted by the board of the IMF in 30 years. We have been able to express and explain the policy of the IMF in terms of payment delays and give the precedents and history of that to Mr Varoufakis," noted Lagarde as quoted by the Financial Times.
Overall Greece's debt to the troika of international creditors, the IMF, the European Union and the European Central Bank (ECB), is estimated to be some $270 billion.
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