facebook
twitter
rss
account
search
search
 

Report: IMF mulls suspending Greek aid

June 20, 2013 at 5:32 PM   |   Comments

LUXEMBOURG, June 20 (UPI) -- The International Monetary Fund may suspend aid payments to Greece in July because of a shortfall in financing to cover Athens' debts, financial officials said.

The IMF is getting ready to suspend payments at the end of July unless eurozone leaders find a way to fill a $4 billion to $5 billion shortfall in Greece's $227 billion bailout, Britain's Financial Times reported Thursday, citing officials managing the rescue plan.

The newspaper said the shortfall resulted from eurozone central banks' refusal to roll over Greek bonds among their holdings. Some officials blamed the shortfall on economic troubles in other eurozone capitals.

One official said eurozone finance ministers will explore "alternate sources" of funding -- possibly including a new rescue this year -- the newspaper said. The ministers met Thursday evening in Luxembourg but no decision was expected until the fall on how to address the shortfall in Athens, the newspaper said.

The problem arises as Greece has begun to show signs of economic recovery, the report said.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
GM recalls 221,000 Cadillacs and Impalas GM recalls 221,000 Cadillacs and Impalas
2
New National Security Cutter delivered to Coast Guard New National Security Cutter delivered to Coast Guard
3
First MT30 engine for Korean Navy frigates passes acceptance tests First MT30 engine for Korean Navy frigates passes acceptance tests
4
Ukraine's State Guard Service receives armored personnel carriers Ukraine's State Guard Service receives armored personnel carriers
5
Navy's Triton surveillance drone flies cross-country Navy's Triton surveillance drone flies cross-country
Trending News
Video
x
Feedback