European Commission: Cash-starved Greece was facing a 300-million-euro debt repayment to the IMF on Friday and further repayments later in the month totalling about 1.3 billion euros, according to Deutsche Welle. Earlier on Thursday, IMF Managing Director Christine Lagarde still said she was "confident" that Greece would meet its Friday debt payment. 0:00:00 0:00:00No deal on Greek reform plan Athens buys time The postponement will buy more time for Athens after inconclusive talks between Greek prime minister Alexis Tsipras and European Commission head Jean-Claude Juncker on Wednesday. The Fund also noted that under a decision taken in the late-1970s, its member nations could ask to bundle multiple principal payments into one to address the administrative difficulty of making several payments in a short period. Negotiating for Greece bailout lenders - the EU Commission, the European Central Bank and the IMF - Juncker reportedly offered Tsipras some concessions on fiscal targets to help enhance growth. However, the demands are seen crossing the ruling Syriza party declared red lines and have already invited a backlash from senior party members, who described them as unacceptable. "Juncker took on the dirty work and conveyed the most vulgar, most murderous, toughest plan when everyone hoped that the deal was closing," Alexis Mitropoulos, a deputy parliament speaker told Mega TV. Greek Prime Minister Alexis Tsipras will brief parliament on the state of negotiations on Friday. In return, Athens was asked to commit to selling off state assets and maintaining unpopular labor reforms.
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Tagged under European Commission, debt repayment topics.