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Mr. Bofferding said Monday that the fund had already paid one member's electric utility bill and other disbursements would be made as needed.
About 80percentt of the disbursements would be in cash, the agreement specifies, with the remaining 20percentt in the form of discount certificates to offset the price of seller's commissions and certain other charges.
Treasury and IRS officials have not said they will completely suspend all tax refunds next month, but a senior administration official said such disbursements would be severely affected and likely slowed if they are paid.
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So it's no surprise that the first disbursement would be the $350 million to government auditors, investigators and lawyers who will try to track all the taxpayer money being spent on economic recovery.
Leaders of the 16 nations that use the euro currency also formally agreed to provide 80 billion euros in a joint package with the International Monetary Fund totaling 110 billion euros, or $140 billion, and said that the first disbursement would be made before Greek payments came due on May 19.
A member of one of the governing parties said there were "very real concerns" that further aid disbursements to Greece would be stopped.
"The basic trade would be Chinese disbursements to Pyongyang, as well as security assurances, in return for constraints on North Korea's program...
The basic trade would be Chinese disbursements to Pyongyang, as well as security assurances, in return for constraints on North Korea's program.
As a rough quote, the total cost in legal fees, costs and disbursements of such a move would be say, about $75,0000 US.
The fund said any future disbursements of aid to the country would be administered by the fund itself and would not be deposited directly in Ukraine.
Just as important, it will also have to be put to parliaments in some countries, notably in Germany, which are sceptical about handing yet more money over to Greece.In fact, even if all these hurdles can be jumped, disbursements would probably not be possible by the end of the month, when Greece is due to repay the IMF around €1.5 billion ($1.7 billion).
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