Sunday, March 1, 2015

Greece, Creditors, and the IMF

SF sent in a link to this article entitled “Greece Stirs Doubt On Debt Owed to the IMF” from the February 27 issue of The Wall Street Journal.

SF remarked that Greece’s grandmother may be looking peaked again. It had been less than a week since Greece worked out this year’s deal to fend off its creditors.

Here’s a podcast from NPR’s Morning Edition from 3 years ago, discussing how Greece will find a way to pay back the IMF first.

No matter what Greece says now, it will probably find a way to pay back the IMF. Think about it this way: even Argentina paid back the IMF (even if they did it 3 years too late). Basically, member countries treat the IMF like a charity: you don’t steal from them, and you make sure they get paid.

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