IMF says it expects Greece will make June 30 payment

(WASHINGTON) - The International Monetary Fund said Thursday that it believes Greece will make a 1.5 billion euro ($1.7 billion) debt payment scheduled for June 30, as Athens continues to negotiate with creditors.

Talk of a default is "all speculation, because we're expecting the payment to be made on June 30th and that's what the Greek authorities have said publicly," said Fund spokesman Gerry Rice.

Rice also denied that the IMF had taken a "take it or leave it" stance on the new terms for releasing funds to Greece under its bailout deal, which include difficult tax hikes and spending cuts.

"The IMF doesn't do 'take it or leave it.'... That's not how we work with our member countries, it's always give and take," Rice said, when asked by reporters if it had given Greece such an ultimatum.

At the same time, he said that the official creditors -- the IMF, European Commission and European Central Bank -- which have spurned Greece's reform proposals this week -- are "all on the same page."

Believed far short of funds to make the payment, Athens is in last-minute talks with the Fund and European creditors to release another 7.2 billion euros ($8.1 billion) from its existing bailout program to finance government obligations.

Rice said if the payment is missed, Greece will immediately be ruled in arrears, cutting its access to IMF aid.

But he said strenuous efforts are being made to reach agreement with Athens over what creditors want in exchange for funding, as well as what additional support creditors will offer.

That includes a combination of reforms on the Greek side and additional financing from the Europeans, he noted.

"We've been calling for a balanced approach and for all sides to play their part," Rice said.

"We are working intensively, as hard as we can, night and day, to achieve a deal."