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IMF says economic talks with Greece still underway

(Xinhua)

08:33, October 26, 2012

The Washington-based International Monetary Fund (IMF) on Wednesday said talks with the Greek authorities were still underway, and no agreement on the economic performance review of the eurozone country has been inked so far.

"Discussions continue with the Greek authorities on the policies that could serve as a basis for the completion of the first review of the economic program. There has been progress in recent days, but some outstanding issues remain to be agreed upon to reach full staff level agreement," an IMF spokesperson Wednesday said in a short statement.

"Furthermore, financing issues will be discussed between the official lenders and Greece," noted the statement.

The completion of the ongoing economic talks was critical to unlocking the next tranche of funding from global lenders including the IMF and European Commission for the cash-strapped nation.

Greece secured a 130-billion-euro ($169-billion) bailout package from global lenders in February, but two rounds of general elections since then have stalled the implementation of reforms that underpinned the loan program.

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