By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Global lender, the International Monetary Institution IMF said on Tuesday that Greece was unable to repay €456 million facility.

“The SDR 360 million principal repayment (about EUR 456 million) due by Greece to the IMF today was not received. We have informed our Executive Board of this development. Greece’s arrears to the IMF total SDR 1.6 billion (about EUR 2.0 billion) to date,” Gerry Rice, Director of Communications at the IMF said.

 “The request by the Greek authorities for an extension of the repayment obligation due on June 30th is expected to be discussed by the Executive Board in the coming weeks,” Rice added.