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Greece, lenders adjourn bailout review till after IMF spring meeting

Greece's review of progress under a bailout deal reached in July has dragged on for months
Greece's review of progress under a bailout deal reached in July has dragged on for months

Greece and its international lenders adjourned talks on a crucial bailout review early today and will resume them immediately after this week's IMF spring meeting, the Greek finance minister said. 

Lenders, who had been in Athens for just over a week, will return next Monday after the IMF spring meeting in Washington with a view to concluding an agreement by April 22. 

This is when when euro zone finance ministers are scheduled to meet, Finance Minister Euclid Tsakalotos told reporters. 

"The Greek government and the four institutions agreed there was progress," Tsakalotos said, referring to European institutions and the International Monetary Fund. 

Greece's review of progress, under a bailout deal reached in July, has dragged on for months.

This is mainly because of differences among the lenders over its projected fiscal shortfall by 2018 - initially seen at 3% by the EU and 4.5% by the IMF - and resistance from Athens on unpopular measures. 

The differences among the lenders themselves remained. 

With Athens, difference still exist on the depth of pension reform and regulating non-performing loans, particularly those involving primary home mortgages, sources close to the talks have said. 

A positive review will unlock up to €5 billion in aid. Athens needs the money to repay €3.5 billion to the International Monetary Fund and the European Central Bank in July, as well as unpaid domestic bills.