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20 Jun 2013
IMF threatens to suspend payments to Greece - FT
FXstreet.com (Córdoba) - The IMF is preparing to suspend aid payments to Greece by the end of July unless eurozone leaders plug a gap of €3-4 billion in Greece's €172bn rescue program, the Financial Times reported Thursday, citing officials involved in management of the bailout.
According to the story, the gap emerged after eurozone central banks refused to roll over Greek bonds they hold, and comes amid signs that even the scaled-back privatization plan Athens agreed to last year is falling behind schedule. Officials emphasized that Athens isn't to blame, but rather other eurozone members.
The shortfall may force euro-zone finance ministers to discuss "alternate sources" of funding, including the potential for a new bailout program by the end of the year, one official said.
According to the story, the gap emerged after eurozone central banks refused to roll over Greek bonds they hold, and comes amid signs that even the scaled-back privatization plan Athens agreed to last year is falling behind schedule. Officials emphasized that Athens isn't to blame, but rather other eurozone members.
The shortfall may force euro-zone finance ministers to discuss "alternate sources" of funding, including the potential for a new bailout program by the end of the year, one official said.