The International Monetary Fund (IMF) expects Greece to make a 1.5-billion-euro debt repayment on June 30 as scheduled, IMF spokesman Gerry Rice said during the regular press briefing on Thursday. He dismissed talk of default as “speculation” and said that Greek authorities have publicly said they will meet the payment. In the case that the payment is missed, Rice added, the Fund will not consider the country in default but will place it in “arrears” status, after which IMF Managing Director Christine Lagarde must notify the Fund’s executive board about the nonpayment within 30 days. Rice refused to comment on the negotiations currently underway in Brussels, noting only that strenuous efforts are being made to reach an agreement. He pointed out, however, that the proposal presented by the institutions (IMF, European Central Bank and European Commission) was unanimous and “fiscally and socially balanced,” while promoting growth. Rice said that an agreement on Greece must ensure the economy’s financing and promote structural reforms, urging Europe to undertake initiatives to ensure the sustainability of Greece’s debt. He also noted that the IMF does not present ‘take it or leave it’ ultimatums during the negotiations and stressed the need for reforms to Greece’s pension system while providing for the more vulnerable social groups. (source: ana-mpa)
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