ATHENS: The Finance Ministerof Greece Yanis Varoufakis said that Greece is struggling to negotiate a bailout extension that would unlock €7.2 billion ($7.73 billion) for the country and tide it over for a few months. On April 9, it made its €460 million ($495.82 million) repayment to the International Monetary Fund (IMF).
Although it managed to make this payment to the IMF, but there’s no doubt that funds are running dry, and one of the other major bills due in the next few weeks will cause a default if those bailout funds do not appear. The Euro Working Group, a meeting of deputy finance ministers, gave Athens six working days from Thursday last week, to present a convincing economic reform plan before eurozone finance ministers. On April 24, they will decide whether to unlock €7.2 billion of bailout funds.
