Thursday, April 9, 2015

Greece Gets the Message

(Just about) every country pays back the IMF. This morning, Greece made a full payment, on time, to the IMF.

Here’s a screen capture of the interactive chart from the article:

15-04-09, WSJ, Greece's Debt Due Dates

This chart is a bit odd: the month is actually to the left of its label. So, April starts with the tick mark above March and goes to the tick mark above April. So, today’s payment on April 9 has already been completed and removed from the chart.

The next two payments are to the holders of Greece’s treasury bills. This is mostly Greek banks, and can probably be paid by rolling them over with new treasury bills.

The next serious deadline is the orange bar on May 11. This is also to the IMF, and is about 70% larger than the payment made today. The four payments due a month after that, are collectively, about twice the size of that payment due in May.

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