Greece moves to quell default fears, pledges to meet ‘all obligations’

06-Apr (Reuters) – Greek Finance Minister Yanis Varoufakis said on Sunday that Greece “intends to meet all obligations to all its creditors, ad infinitum,” seeking to quell default fears ahead of a big loan payment Athens owes the IMF later this week.

Following a meeting with the head of the International Monetary Fund, Varoufakis told reporters the government plans to “reform Greece deeply” and would seek to improve the “efficacy of negotiations” with its creditors.

Greece has not received bailout funds since August last year and has resorted to measures such as borrowing from state entities to tide it over. It offered a new package of reforms last week in the hope of unlocking funds, but has yet to win agreement on the proposals with its EU and IMF lenders.

Most urgently, Athens is on the hook for a roughly 450 million euro ($494 million) loan repayment to the IMF due this Thursday.

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PG View: This remains about make the right assurances to the troika to get the next tranche of bailout money so it can repay the IMF loan on time to avert default.