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Reuters: Greece to Run Out of Cash by April 20 Without Fresh Aid

Greece will run out of money by April 20 if it does not receive fresh financial aid from its creditors, Reuters wrote earlier today citing a source reportedly familiar with the matter.
The report reminds that the Greek government has lately relied on repo transactions -where it borrows money from state entities- in order to cover its urgent cash needs, but can continue to rely on that only for a few weeks more, the source said. “Although it will be hard, the country can make it without help until about April 20 using short-term borrowing from public entities,” the source explained.
The Greek government is expecting that the reforms package will be approved by the creditors’ institutions and that will signal the green light for the Eurogroup to proceed with the payment of both the 1.9 billion euros the European Central Bank (ECB) has raised from Greek bonds and the 1.2 billion euros requested by the HFSF. Greek officials estimate that if those 3.1 billion euros are paid within the first 10 days of April, will provide the government with a deep breath, however everything will be decided in the next Eurogroup where the relevant political decisions will be taken.

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