Greece the first developed country to default on an IMF loan
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 (30 June) 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.
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