Greece needs aid to repay debts
Published 26/05/2015 | 03:00
Greece intends to make good on its debt obligations but needs aid urgently to be able to do so, the government said yesterday, after several senior officials insisted Athens had no money to pay a loan instalment falling due next week.
Shut out of bond markets and with bailout aid locked, Greece is running out of cash to pay its bills. It must repay four loans totalling €1.6bn to the IMF next month, starting with a €300m payment on June 5 that is seen as the next crunch point for state coffers.