Greece has scraped together funds to repay international creditors this month but will exhaust its cash reserves by the end of April, raising the possibility of a sovereign default next month if it fails to agree a new reform package with the eurozone.
A senior Greek official gave reassurances that a €458m loan instalment owed to the International Monetary Fund would be paid tomorrow as scheduled, along with another €420bn due to international investors when a six-month treasury bill expires on April 14.
“We’ll meet international obligations without any problem but it will be a squeeze to raise cash for domestic payments in the second half [of the month],” the official said.
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