The euro slid lower on Friday as the IMF said in a note there’s been “no progress” in narrowing differences between
Greece and its international lenders to avoid a default.
EUR/USD hit 1.1218 during late Asian trade, losing 0.36%.
“There are major differences between us in most key areas,” said IMF spokesman Gerry Rice in an unusual public statement.
“There has been no progress in narrowing these differences recently,”
he said. “Thus, we are well away from an agreement.”
He added that the IMF team negotiating with Greece had been pulled out of Brussels, though the fund remained ready to resume talks. “The ball is very much in Greece’s court right now,” he said.
The talks between Greece and its creditors have been hampering for several days spurring fresh fears that the country may default on its debt.
