Greece’s Scary Calendar of Debt Payments Due
Greece, which owes €324 billion to the International Monetary Fund, the European Central Bank, and euro zone governments, faces a relentless debt payment schedule over the next few months. Little money has been coming into the country, however, and talks over the release of bailout funds are progressing slowly. The government has been meeting obligations by drawing on its cash reserves. In a move that could keep the country afloat until the end of May, Prime Minister Alexis Tsipras ordered municipalities to transfer funds, estimated at about €1.5 billion, to the central bank.