International Monetary Fund and Greek Government

Greek officials: But that outcome is far from guaranteed, according to The Japan Times. The Greek government barely managed to make a significant payment last month, and even larger payments fall due throughout the summer, starting in June with an installment of more than €1.5 billion on its liabilities to the International Monetary Fund. To be sure, it would be far better for Greece and its creditors to reach a negotiated solution. As Greek officials consider their options, they would do well to bear in mind that there are better and worse ways to default on sovereign debt — especially given countries’ desire to re-establish their creditworthiness as soon as possible. In the midst of all that pain, it is tempting to point fingers. In the coming weeks and months, the Greek government would be wise to consider three guidelines: Don’t name-call: Default is painful, even if it does turn out to be the right choice in the long run. (news.financializer.com). As reported in the news.