Greece tells creditors it will run out of cash on April 9
CNBC - Apr 02, 2015
Greece has told its creditors it will run out of money on April 9, making an appeal for more loans before reforms on which new disbursements hinge are agreed and implemented, but the request was rejected, euro zone officials said.
The appeal was made by Athens at a teleconference of euro zone deputy finance ministers on Wednesday organised to assess how far Athens still was from meeting the conditions for unlocking new financial aid.
Greece's appeal echoed remarks by Interior Minister Nikos Voutsis on Wednesday that the country would have to choose whether to pay back 450 million euros to the International Monetary Fund on April 9th or pay salaries and pensions. He said it would choose the latter.
A government spokesman later denied that Greece would miss the IMF repayment deadline. But the choice Athens said it would face was repeated at the closed teleconference with creditors.
Greece can get 7.2 billion euros of new loans from the euro zone and the IMF if it implements reforms that the previous government agreed would be the condition for disbursement.
