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9 Apr 2015
Greece repays €450million it owed the IMF – KBC
FXStreet (Barcelona) - With Greece meeting today’s deadline for the €450M IMF repayment, the KBC Bank Research Team notes that attention will now shift to the April 14th deadline for T-Bill expiry.
Key Quotes
“A Greek central bank official said that Greece made today’s deadline for a €450M IMF repayment.”
“The payment brings only limited relief with the next deadline looming. On April 14, a €420M 6‐month T‐bill expire. However, government officials stated that Greece can make that payment as well, but afterwards (May) financial assistance will be needed to avoid a short term default.”
“Finance Ministry officials are wrapping up technical talks with “the Institutions” with the aim of reaching a deal on the Greek reform list at the April 24 Eurogroup meeting. In case of an agreement, Greece should normally receive the final €7.2B aid tranche from the bailout programme.”
“On the Greek bond market, there is a slight relief rally with the 10‐yr yield spread narrowing around 30 bps. Greek data offered some support as well with strong production data and an unexpected decline in the unemployment rate.”
Key Quotes
“A Greek central bank official said that Greece made today’s deadline for a €450M IMF repayment.”
“The payment brings only limited relief with the next deadline looming. On April 14, a €420M 6‐month T‐bill expire. However, government officials stated that Greece can make that payment as well, but afterwards (May) financial assistance will be needed to avoid a short term default.”
“Finance Ministry officials are wrapping up technical talks with “the Institutions” with the aim of reaching a deal on the Greek reform list at the April 24 Eurogroup meeting. In case of an agreement, Greece should normally receive the final €7.2B aid tranche from the bailout programme.”
“On the Greek bond market, there is a slight relief rally with the 10‐yr yield spread narrowing around 30 bps. Greek data offered some support as well with strong production data and an unexpected decline in the unemployment rate.”