Greece Pays Its Obligations to IMF, ECB

Greece Pays Its Obligations to IMF, ECB

Greece started on Monday paying its obligations towards its creditors.
More specifically, the General Accounting Office gave an order for the payment of about 2 billion euros to the IMF in addition to 4.2 billion euros to the ECB for a bond that expires today and about 500 million euros to the Bank of Greece.
The funds are part of the 7 billion euro bridge loan of the ESM provided by the agreement between Greece and its creditors.
The International Monetary Fund (IMF) later confirmed that Greece had paid an overdue instalment of nearly 2.0 billion euros that has been in arrears since the end of June. The announcement was made by IMF Director of Communications Gerry Rice.
“I can confirm that Greece today repaid the totality of its arrears to the IMF, equivalent to SDR 1.6 billion (about 2.0 billion euro). Greece is therefore no longer in arrears to the IMF.
“As we have said, the Fund stands ready to continue assisting Greece in its efforts to return to financial stability and growth,” Rice said.
The European Central Bank (ECB) also confirmed that it had been paid by Greece for bonds in its portfolio that matured on Monday in a laconic tweet, which simply said: "The ECB confirms that it has been repaid. #Greece."
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