“There will be no possibility for the Greek authorities to repay the whole amount,” according to a leaked document of a staff member at the IMF.
The next repayment of €300 million is due June 5. Meanwhile, the government will have to scrounge up enough to pay salaries and pensions at the end of the month.
Nevertheless, Greek stocks rose Tuesday, with GREK up 1.3%, after the Greek labour minister announced Athens would soon conclude a deal for more loans with foreign creditors, reports Sudip Kar-Gupta for Reuters.
Global X FTSE Greece 20 ETF
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Max Chen contributed to this article.