ECONOMY

Greece must pay tranche for derivative on Friday

Payments on a swap originally arranged by Goldman Sachs Group Inc in 2001 are due on Friday, said a person familiar with the matter who asked not to be identified publicly.

The derivative, now held by the National Bank of Greece, masked the country’s growing debt, helping it meet European Union rules for entering the euro area.

Spokesmen for National Bank and Goldman Sachs declined to comment on the amount due for the swap, and the government didn’t respond to calls and text messages seeking comment.

[Bloomberg]