Greek Default: Statement by the IMF on Greece /Δήλωση του ΔΝΤ σχετικά με την Ελλάδα

IMF_0

Statement by the IMF on Greece

Press Release No.15/310
June 30, 2015

Mr. Gerry Rice, Director of Communications at the International Monetary Fund (IMF), made the following statement today regarding Greece’s financial obligations to the IMF due today:
“I confirm that the SDR 1.2 billion repayment (about EUR 1.5 billion) due by Greece to the IMF today has not been received. We have informed our Executive Board that Greece is now in arrears and can only receive IMF financing once the arrears are cleared.


“I can also confirm that the IMF received a request today from the Greek authorities for an extension of Greece’s repayment obligation that fell due today, which will go to the IMF’s Executive Board in due course.”

IMF COMMUNICATIONS DEPARTMENT
Public Affairs Media Relations
E-mail: publicaffairs@imf.org E-mail: media@imf.org
Fax: 202-623-6220 Phone: 202-623-7100

http://www.imf.org/external/np/sec/pr/2015/pr15310.htm

 

Διεθνές Νομισματικό Ταμείο Ουάσιγκτον, ΗΠΑ

Δελτίο Τύπου 15/310
ΓΙΑ ΑΜΕΣΗ ΔΗΜΟΣΙΕΥΣΗ
30 Ιουνίου 2015

Δήλωση του ΔΝΤ σχετικά με την Ελλάδα

Ο κύριος Τζέρι Ράϊς, Διευθυντής Επικοινωνίας του Διεθνούς Νομισματικού Ταμείου (ΔΝΤ), έκανε σήμερα την ακόλουθη δήλωση σχετικά με τις οικονομικές υποχρεώσεις της Ελλάδας προς το ΔΝΤ οι οποίες λήγουν σήμερα:

«Επιβεβαιώνω ότι η αποπληρωμή του ποσού ύψους 1,2 δισεκατομμυρίων Μονάδων Ειδικών Τραβηκτικών Δικαιωμάτων (περίπου 1,5 δισεκατομμύρια ευρώ), η οποία έπρεπε να γίνει σήμερα από την Ελλάδα προς στο ΔΝΤ, δεν έχει παραληφθεί. Ενημερώσαμε το Διοικητικό Συμβούλιο ότι η Ελλάδα τώρα διατελεί σε καθυστέρηση της πληρωμής και ότι μπορεί να λάβει χρηματοδότηση από το ΔΝΤ μόνο μετά την καταβολή των καθυστερούμενων.

«Μπορώ επίσης να επιβεβαιώσω ότι το ΔΝΤ έλαβε σήμερα από τις Ελληνικές Αρχές ένα αίτημα για την παράταση της υποχρέωσης αποπληρωμής η οποία έληξε σήμερα, το οποίο θα προωθηθεί στο Διοικητικό Συμβούλιο εν ευθέτω χρόνω.»  
http://www.imf.org/external/lang/greek/np/sec/pr/2015/pr15310g.pdf

 

ONE DAY BEFORE:

efsf-582x330

1) ESM press release: “EFSF programme for Greece expires today”

Date: 30 June 2015
Luxembourg – The Greek financial assistance programme of the European Financial Stability Facility (EFSF) expires tonight at midnight CET. As a result, the last EFSF loan tranche of €1.8 billion will no longer be available for Greece and the €10.9 billion in EFSF notes to cover the potential cost of bank recapitalisation or bank resolution in Greece will be cancelled.

Klaus Regling, CEO of the EFSF, said: “It is regrettable for Greece that the EFSF programme will expire today without any follow-up arrangement and that the positive results of the programme are put at risk. Due to the economic policies adopted under the EFSF programme, the country was on a good path towards strong growth until the second half of 2014. The many sacrifices which the Greek people had to make were paying off. Greece managed to cut its budget deficit and regain competitiveness. The country was able to access financial markets again and saw its high unemployment start declining. According to the OECD and World Bank, Greece was a reform champion until 2014, with encouraging growth prospects. This trend can continue if the Greek population decides to return to the path of reform within the euro area.”

The EFSF programme started on 21 February 2012. It was originally due to end on 31 December 2014, but was extended twice upon request of the Greek government. In the context of the programme, the EFSF disbursed €141.8 billion to Greece. It included €48.2 billion to cover the costs of bank resolution and recapitalisation. Of this amount, €10.9 billion in EFSF notes was not needed and was later returned to the EFSF. Accordingly, the outstanding loan amount stands at €130.9 billion. This makes the EFSF Greece’s largest creditor by far.

Greece’s financial assistance programme was unique in many aspects. Due to the seriousness of the country’s structural weaknesses and adjustment needs, it was the biggest EFSF or ESM programme ever. It also had by far the most favourable lending conditions ever granted to an EFSF or ESM programme country. It included Private Sector Involvement with sizeable losses for private investors. Greece benefits from an average loan maturity of over 30 years. The country pays neither interest rates nor redemption on the overwhelming part of its EFSF loans until 2023. These favourable lending conditions provided Greece with budgetary savings of over €16 billion for 2013 and 2014 combined. That corresponds to more than 4% of Greek GDP in each of the two years.

 

http://www.esm.europa.eu/press/releases/efsf-programme-for-greece-expires-today.htm

 

EFSF: Το πρόγραμμα έληξε – Χάνονται 12,7 δισ. ευρώ

Τη λήξη του ελληνικού προγράμματος σήμερα τα μεσάνυχτα ανακοίνωσε πριν από λίγο το Ευρωπαϊκό Ταμείο Χρηματοπιστωτικής Σταθερότητας (EFSF) με γραπτή δήλωσή του.

Ως εκ τούτου, ανέφερε, η τελευταία δόση στο πλαίσιο των δανείων του EFSF ύψους 1,8 δισ. δεν θα είναι πλέον διαθέσιμη για την Ελλάδα και τα 10,9 δισ. ευρώ στο πλαίσιο του EFSF για την κάλυψη του εν δυνάμει κόστους της ανακεφαλαιοποιήσης των τραπεζών ή της διάλυσης των τραπεζών στην Ελλάδα θα ακυρωθούν.
Ο επικεφαλής του EFSF, Κλάους Ρέγκλινγκ δήλωσε:
«Είναι λυπηρό για την Ελλάδα ότι το πρόγραμμα του ΕΦΣ λήγει σήμερα χωρίς να υπάρχει μεταγενέστερη ρύθμιση και ότι … Η ΣΥΝΕΧΕΙΑ ΕΔΩ 

 

2) Tsipras asked the eurozone’s rescue fund for a two-year loan / Η επιστολή Τσιπρα για ΝΕΟ ΔΑΝΕΙΟ από ESM

PDF-tsipras.pdf-1-714x1010

Tsipras2-714x1010

 

RELATED/ΣΧΕΤΙΚΑ:

Debt Fraud: Greece Actually Owes Nothing!

ΠΡΑΞΗ ΝΟΜΟΘΕΤΙΚΟΥ ΠΕΡΙΕΧΟΜΕΝΟΥ: Τραπεζική αργία βραχείας διάρκειας.

Πράξη Νομοθετικού Περιεχομένου για το δημοψήφισμα της 5ης Ιουλίου ΚΑΙ η ερώτηση του δημοψηφίσματος

PETITION to the Prosecutor of the International Criminal Court (ICC): Save Greece! Save the cradle of western civilization! /Προς τον Εισαγγελέα του Διεθνούς Ποινικού Δικαστηρίου (ICC): ΣΩΣΤΕ ΤΗΝ ΕΛΛΑΔΑ !

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2 comments on “Greek Default: Statement by the IMF on Greece /Δήλωση του ΔΝΤ σχετικά με την Ελλάδα

  1. Παρακρατούνται υπέρ του ΔΝΤ οι πληρωμές αμερικανών Tour Operators
    Tour Operators από τις Ηνωμένες Πολιτείες γνωστοποίησαν στους έλληνες ξενοδόχους ότι οι πληρωμές που θα τους εμβάζουν για τη φιλοξενία τουριστών θα δεσμεύονται αυτόματα υπέρ του ΔΝΤ, και έναντι του χρέους της χώρας μας, όπως κατήγγειλε στον ΣΚΑΪ ο πρόεδρος της Πανελλήνιας Ομοσπονδίας Ξενοδόχων, Γιάννης Ρέτσος.

    http://www.skai.gr/news/greece/article/284772/parakratoudai-uper-tou-dd-oi-pliromes-amerikanon-tour-operators/#ixzz3ed6dL2tM

  2. Greece Defaults on IMF Loan Despite New Push for Bailout Aid

    By GABRIELE STEINHAUSER and VIKTORIA DENDRINOU in Brussels and NEKTARIA STAMOULI in Athens
    Updated July 1, 2015 12:12 a.m. ET
    680 COMMENTS

    Greece became the first developed country to default on the International Monetary Fund, as the rescue program that has sustained it for five years expired and its creditors rejected a last-ditch effort to buy more time.

    The Washington-based fund said the Greek government failed to transfer €1.55 billion ($1.73 billion) by close-of-business on Tuesday—the largest, single missed repayment in the IMF’s history.

    The failure to pay the IMF was a dramatic, if anticipated, conclusion to a day full of unexpected twists and turns. On Tuesday morning—with the clock ticking toward the midnight expiration on the European portion of Greece’s €245 billion bailout—officials in Athens said they were working on a new solution to the four-month old impasse with creditors.

    By the afternoon, Prime Minister Alexis Tsipras had asked for a new rescue program—the country’s third in five years—to help pay for some €29.15 billion ($32.52 billion) in debt coming due between 2015 and 2017.

    Late Tuesday, Greek officials were also raising doubts over their plans for a referendum planned for Sunday, in which the government had asked its citizens to vote against pension cuts and sales-tax increases demanded by its creditors.

    read more

    http://www.wsj.com/articles/some-greek-banks-to-open-for-pensioners-1435653433

    Greece’s Debt Due: What Greece Owes When

    Greece is negotiating with its eurozone creditors to get more aid before the indebted government runs out of cash. Here’s what Greece owes, when.

    By Charles Forelle, Pat Minczeski and Elliot Bentley
    Last updated June 30, 2015 at 6:25 p.m. ET | Published Feb. 19, 2015 at 2:09 p.m. ET

    Greece’s Debt Due

    Show debt due in:

    Individual Repayments

    Creditor Due Date Amount Description Rate
    IMF June 30, 2015 OVERDUE €1,547,968,745 Loan under the IMF’s first bailout program for Greece, in 2010.*
    Treasury bill holders July 10, 2015 €2,000,000,000 Short-term treasury bills 2.30%
    IMF July 13, 2015 €453,064,023 Loan under the IMF’s first bailout program for Greece, in 2010.*
    Treasury bill holders July 17, 2015 €1,000,000,000 Short-term treasury bills 2.70%
    ECB July 20, 2015 €2,095,880,000 Bonds held by ECB exempted from the 2012 default 3.70%
    ECB July 20, 2015 €1,360,500,000 Bonds held by national central banks exempted from the 2012 default 3.70%
    EIB July 20, 2015 €25,000,000 Bonds held by the European Investment Bank; exempted from the 2012 default 3.70%
    Treasury bill holders August 7, 2015 €1,000,000,000 Short-term treasury bills 2.75%
    Treasury bill holders August 14, 2015 €1,400,000,000 Short-term treasury bills 2.70%
    ECB August 20, 2015 €3,020,300,000 Bonds held by ECB exempted from the 2012 default 6.10%
    ECB August 20, 2015 €168,000,000 Bonds held by national central banks exempted from the 2012 default 6.10%
    IMF Sept. 4, 2015 €302,042,682 Loan under the IMF’s first bailout program for Greece, in 2010.*
    Treasury bill holders Sept. 4, 2015 €1,400,000,000 Short-term treasury bills 2.97%
    Treasury bill holders Sept. 11, 2015 €1,600,000,000 Short-term treasury bills 2.70%
    IMF Sept. 14, 2015 €339,798,017 Loan under the IMF’s first bailout program for Greece, in 2010.*
    IMF Sept. 16, 2015 €566,330,029 Loan under the IMF’s first bailout program for Greece, in 2010.*
    Treasury bill holders Sept. 18, 2015 €1,600,000,000 Short-term treasury bills 2.70%
    IMF Sept. 21, 2015 €339,798,017 Loan under the IMF’s first bailout program for Greece, in 2010.*
    Treasury bill holders Oct. 9, 2015 €1,400,000,000 Short-term treasury bills 2.97%
    IMF Oct. 13, 2015 €453,064,023 Loan under the IMF’s first bailout program for Greece, in 2010.*
    Treasury bill holders Nov. 6, 2015 €1,400,000,000 Short-term treasury bills 2.97%
    IMF Dec. 7, 2015 €302,042,682 Loan under the IMF’s first bailout program for Greece, in 2010.*
    Treasury bill holders Dec. 11, 2015 €2,000,000,000 Short-term treasury bills 2.97%
    IMF Dec. 16, 2015 €566,330,029 Loan under the IMF’s first bailout program for Greece, in 2010.*
    IMF Dec. 21, 2015 €339,798,017 Loan under the IMF’s first bailout program for Greece, in 2010.*
    IMF Jan. 13, 2016 €453,064,023 Loan under the IMF’s first bailout program for Greece, in 2010.*
    IMF March 7, 2016 €302,042,682 Loan under the IMF’s first bailout program for Greece, in 2010.*
    IMF March 16, 2016 €566,330,029 Loan under the IMF’s first bailout program for Greece, in 2010.*
    ECB April 11, 2016 €22,800,000 Bonds held by ECB exempted from the 2012 default Six-month Euribor + 0.075%
    ECB April 11, 2016 €30,000,000 Bonds held by national central banks exempted from the 2012 default Six-month Euribor + 0.075%
    IMF April 13, 2016 €453,064,023 Loan under the IMF’s first bailout program for Greece, in 2010.*
    IMF June 7, 2016 €302,042,682 Loan under the IMF’s first bailout program for Greece, in 2010.*
    IMF July 13, 2016 €453,064,023 Loan under the IMF’s first bailout program for Greece, in 2010.*
    ECB July 20, 2016 €1,446,070,000 Bonds held by ECB exempted from the 2012 default 3.60%
    ECB July 20, 2016 €821,800,000 Bonds held by national central banks exempted from the 2012 default 3.60%
    EIB July 20, 2016 €20,000,000 Bonds held by the European Investment Bank; exempted from the 2012 default 3.60%
    IMF Sept. 7, 2016 €302,042,682 Loan under the IMF’s first bailout program for Greece, in 2010.*
    IMF Sept. 19, 2016 €146,548,729 Loan under the IMF’s second bailout for Greece, in 2012.†
    IMF Dec. 7, 2016 €302,042,682 Loan under the IMF’s first bailout program for Greece, in 2010.*
    IMF March 17, 2017 €146,548,729 Loan under the IMF’s second bailout for Greece, in 2012.†
    ECB April 4, 2017 €48,000,000 Bonds held by ECB exempted from the 2012 default Six-month Euribor + 0.09%
    ECB April 20, 2017 €1,185,800,000 Bonds held by ECB exempted from the 2012 default 5.90%
    ECB April 20, 2017 €168,000,000 Bonds held by national central banks exempted from the 2012 default 5.90%
    Private investors July 17, 2017 €1,500,000,000 Bonds issued by Greece (2014 and later)
    IMF July 18, 2017 €293,097,459 Loan under the IMF’s second bailout for Greece, in 2012.†
    ECB July 20, 2017 €2,412,206,000 Bonds held by ECB exempted from the 2012 default 4.30%
    ECB July 20, 2017 €1,455,700,000 Bonds held by national central banks exempted from the 2012 default 4.30%
    EIB July 20, 2017 €10,000,000 Bonds held by the European Investment Bank; exempted from the 2012 default 4.30%
    IMF Sept. 19, 2017 €146,548,729 Loan under the IMF’s second bailout for Greece, in 2012.†
    IMF Dec. 4, 2017 €157,829,765 Loan under the IMF’s second bailout for Greece, in 2012.†

    http://graphics.wsj.com/greece-debt-timeline/

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