As it was expected, Greece is not going to pay the IMF's 305 millions euros on June 5. This refusal can go sideways to Athens, as the agreement between them and creditors has not been achieved yet. This refusal can go sideways to Athens, as the agreement between them and creditors has not been achieved yet. The Greeks are going to combine all payments into one, which will be 1.6 billion euros. A spokesman of the IMF, Gerry Rice, said that the International Monetary Fund had been warned by the Greek authorities to combine all payments into one, which must be paid till the end of June.
Let us remind that Greece took advantage of the rule, introduced in the 70s, where it is said that countries have the right to ask to combine payments for one calendar month. Such decision was accepted due to the exception of the administrative difficulties which may arise with lots of payments in one short period.
Greece decided to "split" own debt into 3 parts, and the first 312 millions euros they are going to pay on June 12, then 573 millions on June 16, and finally, the last 343 millions - on June 19. At the same time, Athens will have to pay 1.5 billion euros for pensions sector in the state, as well as salaries on June 30. Despite the fact that Greece had the funds to pay on June 5, the country decided to choose another way to repay the debt. This means that Greece officially delays the payment to the IMF, if it is unable to pay the bills until June 30.
The IMF acknowledged that the decision of Athens was a complete surprise for them. Director of the International Monetary Fund, Christine Lagarde, has expressed that till this moment the union of payments had not negotiated.