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Greece has enough cash to pay second IMF loan tranche: sources

[ATHENS] Greece has enough cash to pay the second of four loan installments to the International Monetary Fund due on March 13, government and banking sources told Reuters on Monday.

Greece's newly-elected government must pay around 1.5 billion euros to the IMF this month, but its cash reserves are dwindling as it seeks to rework a bailout deal with its European partners. It made the first, 310-million-euro payment on Friday, and the final two installments are due on March 16 and 20.

"Greece has the money to repay the second IMF loan installment," a government official said, requesting anonymity. A banker confirmed that this was the case.