Near-bankrupt Greece says cash reserves drying up

Near-bankrupt Greece is fast running out of cash while it waits for its next installment of aid from international lenders, a deputy finance minister said on Tuesday, sounding the alarm on the country’s precarious financial position.

Near-bankrupt Greece is fast running out of cash while it waits for its next installment of aid from international lenders, a deputy finance minister said on Tuesday, sounding the alarm on the country’s precarious financial position.

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Greece’s European partners have repeatedly promised the country will be funded through August, when it must repay a €3.2 billion bond, but the details of the funding have yet to be disclosed.

In the absence of that money, Greece would run out of funds to pay everyday public expenses.

The country is wholly reliant on aid from its European partners and the IMF, who have turned up the pressure in recent weeks by withholding further aid until an assesment of Greece’s compliance with reforms is complete.

“Cash reserves are almost zero. It is risky to say until when (they will last) as it always depends on the budget execution, revenues and expenditure,” deputy finance minister Christos Staikouras told state NET television.