Greece repays IMF loan instalment despite cash crunch

April 9, 2015 9:42 AM

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ATHENS, Greece (AP) — Greece's government has given the order to repay a roughly 450 million euro ($485-million) loan instalment to the International Monetary Fund due Thursday — a debt Athens had insisted it will honor despite being severely cash-strapped.

The debt stems from Greece's international bailout, under which the country was extended 240 billion euros in rescue loans from other eurozone countries and the IMF to prevent bankruptcy.

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