Greece has initiated the process for the payment of a total 6.25 billion euros (£4.35 billion) to the European Central Bank (ECB) and the International Monetary Fund (IMF), finance ministry officials told Reuters on Monday. Greece is paying 4.2 billion euros in principal and interest to the ECB due on Monday and 2.05 billion euros to the IMF that has been in arrears since June 30, the officials said. The country secured a 7.16 billion euro bridge financing from the European Financial Stability Mechanism (EFSM) last week - enough to see Athens through July - and the opening of negotiations with its lenders on a third bailout programme.
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