Greece makes loan repayment to IMF but another, bigger one looms next week

Greece is making a 200 million euro ($222 million) repayment to the International Monetary Fund, though another, larger one looms next week that it will struggle to manage.

A Greek finance ministry official said Wednesday: "The payment is proceeding normally." The official spoke only on condition of anonymity in line with government regulations.

Greece is struggling to agree on a deal with its creditors to get more rescue loans and is gradually running out of cash. The sides hope to make progress by May 11, when they will hold a eurozone meeting.

On May 12, Greece is due to repay 750 million euros to the IMF, money it will have to scrape together from local reserves, such as those of local governments and hospitals.