Greece Entering Significant IMF Meetings Today And Tomorrow

A Barclays report says that while some progress has been made regarding Greek debt negotiations, “large disagreements in key areas persist, and Greece’s liquidity situation is deteriorating further.” Meanwhile Credit Suisse analysis says that even if agreement is found in the coming days, it won’t be a final agreement but rather allow Greece to skate through the summer months so they can continue to make payments.

Greece paying IMF with IMF reserves may only work for a month

Last week Greece found money to pay the IMF, but the problem was, the Credit Suisse analysis notes, the money it found was in IMF reserves. Tapping reserves parked at the IMF to pay the IMF isn’t a sign of fiscal strength.

Noting...