Channel 4 on Saturday publishes a leak which it said is from within the IMF administration, which states that “…there will be no possibility for the Greek authorities to repay the whole amount unless an agreement is reached with international partners.”

The next installment, worth €1.5 billion, that is due the IMF’s way in June, with the first date on June 5. The question raised is whether the Greek government can pay back the money without a previous bailout extension deal with institutional creditors.

According to Channel 4, “…The IMF memo confirms that there has been ‘some recent progress’ in negotiations between Greece and its lenders: on VAT reform, tax collection and regulations that would make it easier for Greek companies to go bust and be restructured … But the tight timetable, and growing tension between the IMF and the Europeans, mean next week’s Euro summit in Riga looks like the last chance to do a deal before Greece technically defaults on a payment to the IMF in early June.”