Fears that Greece could be forced into bankruptcy in September have been raised by a report that the International Monetary Fund (IMF) is about to pull the plug on providing additional finance to the debt-ridden Mediterranean country.
A report to be published in Monday's edition of Der Spiegel claims that the International Monetary Fund (IMF) is considering ending financial aid to Greece. According to Bloomberg the information in the Der Spiegel report was provided by "unidentified European Union officials."
The report states "High ranking officials at the Fund have informed the European Union that the IMF is no longer willing to provide Greece with more aid.” Apparently the patience of high-ranking IMF officials has worn thin.
The IMF is one part of Greece's troika of creditors, together with the European Union and European Central Bank. Their joint assessment on the Greek program of reforms is not due until August according to Ekathimernini , indicating the IMF has prematurely arrived at its' decision whilst continuing to impose conditions on Greece.
The troika are due to arrive in Athens on July 24 to consider further austerity measures to be proposed by the Greek coalition government for its' creditors approval.