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| Greek Prime Minister Alexis Tsipras during the Economist Conference on "Europe: The comeback, Greece: How resilient?" in Athens on May 15. |
Athens barely made its latest payment (May 12) to the International Monetary Fund (IMF), and it managed to do so only when the government discovered that it could use a reserve account it wasn't aware of, according to the Greek media.
Kathimerini, a Greek daily newspaper, reports that Prime Minister Alexis Tsipras wrote to the IMF's Christine Lagarde warning that Greece would not be able to make that May payment, worth €762 million ($871 million, £554.2 million).
Pension and civil-servant pay packets are due at the end of the month, and based on this news Athens may struggle to pay them. Even if it does manage that, on June 5 the country owes another €305 million to the IMF.
In the two weeks following June 5 there are another three payments, bringing the June total to the IMF to over €1.5 billion.
Here's what's coming:
HSBC, Bloomberg, IMF, Business InsiderGreece may make some of its looming payments, but in June more than €1.5 billion is due to the International Monetary Fund.