MOSCOW (Sputnik) — Greece avoided a default by raiding its emergency funds at the International Monetary Fund (IMF) in order to transfer a 750 million euro ($840 million) repayment installment to the bank, the Telegraph reported Tuesday.
The newspaper said, citing a Greek parliamentarian, that Athens withdrew about 650 million euro from its IMF account in order to make the repayment.
The news comes after European media reported that the IMF was not keen to approve another relief package for the country.
Earlier in the day, Greece transferred an $840-million installment of its multibillion debt. Western media reported that the payment has left Athens without funds to repay other loans or to pay social benefits.
Greece was particularly hard-hit by the global financial crisis of 2008-2009, leaving the country reliant on loans from the IMF, the European Commission and the European Central Bank.
