22:08 GMT03 March 2021
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    Greece's Gordian Knot: Syriza Tackles Austerity (404)
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    Greece cannot agree to the new proposals on extensive economic reforms made by the international creditors, Greek Economy Minister Giorgos Stathakis said Friday.

    MOSCOW (Sputnik) — Greece and its lenders, including the International Monetary Fund (IMF), the European Union and the European Central Bank, are currently negotiating a debt relief deal. On Wednesday, the European Commission and the debt-laden country failed to reach an agreement on a bailout package as Athens refused to compromise on unpopular social reforms demanded by the creditors.

    "We are looking forward to getting a deal [with the creditors] as soon as possible. The Greek government cannot accept these new proposals put on the table," Stathakis told the BBC radio.

    Earlier in the day, Greek Foreign Ministry confirmed that the country would delay an over $330 million debt payment to the IMF that was due on Friday. Instead it pledged to bundle its four payments due in June into one.

    The country has to transfer over $1.7 billion to the fund by June 19.

    The country’s outstanding national debt that emerged following the 2008 economic crisis is estimated at some $350 billion.

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    Greece's Gordian Knot: Syriza Tackles Austerity (404)

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    Tags:
    International Monetary Fund, debt, creditors, economic reform, Greek Foreign Ministry, Giorgos Stathakis, Greece
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