Greece to Default Tuesday

SWAN SONG

Updated Apr. 14, 2017 10:41AM ET / Published Jun. 29, 2015 1:27PM ET

Yannis Behrakis/Reuters

Greece won't repay its debts to the International Monetary Fund by its Tuesday deadline, according to a government source speaking to the Wall Street Journal. The country owes a $1.7 billion payment to the IMF and will default if it's not paid in time. Greece's bailout program will expire at the same time after the request for an extension was rejected on Saturday. The prime minister has called for a referendum vote on Sunday to ask the citizens if they support a bailout deal that involves budget cuts and tax increases.

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Greece to Default Tuesday

Yannis Behrakis/Reuters