U.S. Treasury Secretary Jacob J. Lew said the deadline for a Greek deal with creditors may be later than the next International Monetary Fund payment due date after Greece used a “creative” strategy last month.
“There’s the possibility that June 5 is not the real deadline, that there’s a later date in June,” Lew said Friday at a press briefing in Dresden, Germany, where Group of Seven finance ministers and central bankers met this week.
“The last deadline involved a creative way of using Special Drawing Rights at the IMF to pay a bill,” Lew said. “It did push the day of reckoning out a bit. There’s been some discussion about the possibility of bringing some of the payments to a later date, so instead of having several deadlines in June there would be one deadline later in June.”
Lew, who warned this week of the risk Greece poses for the global economy, urged the Greek government to come up with a “credible plan” to unlock financing from its creditor institutions, while saying both sides needed to compromise.