Greece's Deadline Extended Again: One-Time Payment of Four Installments by End of June

With the International Monetary Fund's agreement to extend Greece's deadline for repaying its loans, Athens has committed to making a one-time payment of four installments to this international body by the end of June (July 1). Greece was supposed to pay an installment worth 300 million euros, equivalent to 340 million dollars, by Friday, June 5, but the government requested a short-term extension of this deadline and to repay several installments at once, a request that the IMF had previously opposed. AFP reports that the IMF's decision to agree to Greece's request was announced just hours after Christine Lagarde, the head of the institution, expressed confidence that Greece would make the 300 million euro payment on Friday. Ultimately, the IMF spokesperson stated: 'Greek officials have informed us that they intend to pay the four installments due in June all at once, with the deadline set for June 30.' This report reflects statements from a Greek government official emphasizing that Greece's proposal was based on the IMF's own regulations and also provides more time for negotiations with Athens. Greece's inability to repay its installments on time had raised concerns about the country's exit from the eurozone. However, the Greek Foreign Minister emphasized that the country must remain in the eurozone. Now, with the IMF's agreement for Greece to make a one-time payment of four installments, the government must pay 1.6 billion euros to its international lenders by the end of June.