Greece became first to default on IMF debt

Q.  Which country becomes first developed nation to default on International Monetary Fund debt?
- Published on 21 Jun 15

a. Denver
b. Greece
c. United States
d. Cuba

ANSWER: Greece
 
Greece has defaulted on a 1.7 billion dollar payment to the International Monetary Fund becoming the first developed nation to do so. The deadline was missed by Athens hours after Eurozone Finance Ministers refused to extend its bailout. Greece is now formally in arrears, and there are fears that this could put Greece at risk of leaving the Euro.

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