Greece holds key EU-IMF talks on spending cuts
ATHENS (AFP) - Greece held talks with its international lenders on Sunday on further spending cuts it must adopt to secure a new 31.5 billion euro (S$48.5 billion) tranche of aid that is vital to keep the country afloat.
Finance Minister Yannis Stournaras said in comments published ahead of the meeting that the new government was committed to reforms aimed at boosting the debt-laden economy and staving off bankruptcy and a threatened eurozone exit.
Mr Stournaras said the next few weeks were crucial for Greece's future, as the so-called troika of creditors - the EU, IMF and the European Central Bank - determines whether to unlock the 31.5 billion euros next month.
"We made good progress," IMF official Poul Thomsen told reporters after the meeting, adding that the auditors would return in September.