Greece to fall into IMF 'arrears'

Greece’s non-repayment to the International Monetary Fund (IMF) on Tuesday (30 June) doesn’t mean it’s bankrupt, but it could prompt bankruptcy quickly enough.

The money, almost €1.6 billion, is due in the IMF’s bank account by 6pm Washington time.

Normally, the debtor country would inform the IMF the day before that it had lodged a payment order at its central bank and the money would be transferred in 24 hours.

Instead, a Greek official told the Reuters news agency on Mo...