(VOVworld) – Greece failed to repay 456 million euros to the International Monetary Fund on Monday. Including a missed repayment at the end of June, Greece is in arrears to the IMF for about 2 billion euros.

Alexis Tsipras, Greece’s Prime Minister, speaks to journalists after agreeing to implement sweeping new reforms (Photo: Corbis)

The missed repayment was overshadowed by the agreement among Eurozone leaders on Monday that would provide Greece with a bailout package worth 86 billion euros.
Fitch Ratings said that the bailout package reached on Monday could ease the pressure on Greece to pay in cash, but challenges to Athens’s repayment ability still remained. Standard and Poor’s said that it would quickly update Greece’s credit rating, following the Monday bailout agreement.