ATHENS: Greece had made a delayed payment of 2 billion euros to the Washington-based fund in July. The payment was due on June 30, thereby making Greece the first developed country to default on an IMF loan. Athens made the payment after receiving a bridge loan from the European Union. The next payment due to the IMF is in September and it amounts to 306 million euros. The total debt to the IMF at the moment is 22 billion euros.
The IMF, along with the European Commission, the European Central Bank and the European Stability Mechanism, is currently involved in negotiations for a third bailout package to Greece. The fund is reluctant to participate in a new loan to Greece before the Greek government can guarantee that required reforms will be implemented.
