In a revealing article that was published today, the Financial Times claim that officials of the Greek Government have made an informal approach to the International Monetary Fund, asking to delay repayments of loans due to the dire state of the country’s finances.

However, the Greece side was persuaded not to submit an official request for the extension of the deadlines, as “no rescheduling is possible”.

According to the article of the business newspaper, the fact that such an extension was discussed earlier this month shows that the Greek Government is finding it increasingly difficult to continue to pay wages and pensions while fulfilling its obligations to its creditors.

Reminding the position of several IMF officials, that a rescheduling of repayments can only come as part of a completely renegotiated new bailout program, Financial Times underlines that were Greece to miss next payment in May, “it would become the first developed economy to go into arrears at the Fund, something only counties like Zaire and Zimbabwe have done in the past.”