Greece on Friday was in the process of repaying a five-billion-euro treasury bill with money raised from another debt issue this week, thus avoiding a payment default, a debt management agency source said. “The payment is proceeding without problems, the necessary money is present,” an agency source told AFP. He did not specify when the process would be complete.
Faced with a financing gap from a stalled EU-IMF loan installment that is still pending, Greece raised the necessary money earlier in the week with a sale of three-month and one-month treasury bills. It drew 4.0 billion euros on Tuesday and added another 938 million euros two days later. Greek Prime Minister Antonis Samaras warned last month that the country would run out of money on Friday without the prompt release of funds from the European Union and International Monetary Fund.
