#AceFinanceReport – Greece:May.19: Greece’s new government has been in talks with its European Union and International Monetary Fund lenders over the past four months about the release of around 7.2 billion euros (5 billion pounds) in aid.
Asked on Greek TV when Athens would reach the cash-for-reform deal, Labour Minister Panos Skourletis said: “De facto, in the coming days.”
“There’s a deadline, which is June 5,” he said – the date on which Greece’s next repayment of a loan to the IMF falls due. “We all know that if there is no solution, let’s say until then, in relation to funding, things will be difficult.
Greece faces payments of about 1.5 billion euros to the IMF next month. It made its last repayment of about 750 million euros to the IMF last week by emptying a holding account at the Fund.
Greece’s labour minister said on Tuesday Athens would soon conclude a deal with its foreign creditors that could unlock further loans to the cash-starved country.