ATHENS: The Greece government has €463.1 million of IMF loans to be repaid by April 9 and another €768 million falling due in May.
After Greece does this, and the EU approves the reform proposals by Finance Minister Yanis Varoufakis, the Troika of lenders the IMF, the European Central Bank, and the European Commission, is expected to release the next €7.2 billion tranche to Athens.
According to senior official, Syriza and Prime Minister Alexis Tsipras have the power to decide not to make the upcoming payments. “We may have to go into a silent arrears process with the IMF. This will cause a furor in the markets and means that the clock will start to tick much faster,” the source told The Telegraph. On Friday the Finance Ministry denied rumors they wouldn’t pay the €460 million sum on April 9.
