Greece met a loan payment of €459 million to the International Monetary Fund on Thursday, according to reports, as the EU discusses whether the country has reformed enough to merit a further cash injection.
“The payment order has been given,” a finance ministry source told AFP.
But no one is quite sure where the money came from – a consequence of the opaque Greek finance system. There are few trained accountants in the country and they do not adhere to international accounting standards, so records are thin and many citizens do not pay tax.
Poor accounting standards are blamed by some for the uncertain numbers that have come out of Greece regarding the country’s debt.
Athens is aware of the tax problem. It promised to hire tourists and cleaners as part time tax inspectors in a recent round of reforms drawn up to meet EU criteria for further cash.
The latest IMF payment was ordered at the same time as Greek Prime Minister Alex Tsipras met Putin in Moscow to discuss co-operation between the two orthodox Catholic nations.
Full article: Greece met its latest IMF debt payment – but no one is sure where the money is coming from (The Independent)