The International Monetary Fund (IMF) will not extend a repayment deadline for Greece if it fails to pay up on 30 June, the organisation's spokesman said today.
During a bi-weekly press conference, Gerry Rice said the fund would not extend the repayment deadline, even if a deal was close.
Rice added that Greece will not technically be in default if it fails to pay the €1.6bn it owes. It will technically be in arrears to the IMF, rather than going into default, he said.
"We speak in terms of arrears to the fund and breach of obligation."
However, he added: "This is speculation because we're expecting a payment to be made."
Rice also responded to an attack yesterday by Greek Prime Minister Alexis Tsipras, who accused the IMF of having a "curious stance" which "conceals one of two possibilities: either they don't want an agreement or they are serving specific interest groups in Greece".
"In all our programmes we have a set of rules and policies and we apply all these rules and policies in an even handed way," he said.
"We have been flexible, we remain flexible in terms of working towards a credible programme," he added.
"We've been striving for a balanced approach.
"In terms of proposals, the institutions are all on the same page. We have presented a common position."