Greece faces daunting funding needs in May

Greece’s next payment to the International Monetary Fund, totalling about 190 million euro in interest payments, is due on May 6 because of the May Day holiday in Greece.

These funds are available, but Greece’s following payment to the IMF, of 760 million euro, is due on May 12 and the government has suggested it will struggle to make this installment.

On May 8, Greece must roll over 1.4 billion euro of Treasury bills (there should not be a problem covering this) while on May 13 almost 500 million euro are needed to pay public sector salaries (up to May 15).

For the full story, please click here.