Money in the form of an ESM “bridge loan” totaling 7.16 billion euros was funneled to Greece, EU Commission spokesman Margaritis Schinas said on Monday, while adding that talks between Greek authorities and representatives of creditors — the “Institutions”, formerly “troika” — will soon begin.
The “cash in hand” on Monday meant two billion euros transferred to the IMF, a development that will end “arrears” dating from late June.
“I can confirm that Greece today (Monday) repaid the totality of its arrears to the IMF, equivalent to SDR 1.6 billion (about EUR 2.0 billion). Greece is therefore no longer in arrears to the IMF,” IMF spokesman Gerry Rice said.
Another 4.2 billion euros was slated for the ECB, to repay a bond that expired Monday, as well as a debt of 500 million euros to the Bank of Greece.