A member of the Greek cabinet is suggesting the country is likely going to have to miss a scheduled debt repayment next month.

Greek interior minister Nikos Voutsis says they just don't have the funds available to make the payment.

"I want to be very honest: 1.6 (billion euros) - 1.598 (billion euros) - are the four installments in June for the IMF (International Monetary Fund), starting on June 5 until the 19th. This money will not be given, and is not there to be given."

The comments come just a day after Greek Prime Minister Alexis Tsipras announced Greece is ready to accept a long-lasting deal with lenders.

The Greek government has been negotiating with its euro zone partners and the IMF for the last 4-months to change the terms of its bailout conditions.

Greece's left-wing Syriza party secured an election victory on a campaign to end the austerity measures the country has been forced into to secure its international loans.

The country is still hoping to secure just under 8-billion US dollars in the final tranche of its latest bailout.