The head of the International Monetary Fund's mission for Greece said a review of the country's progress under a bailout deal would hopefully be concluded positively soon, but talks were not yet finished.
"We have made good progress but there are still important issues that need to be discussed. We are certainly still some way from concluding," IMF's Poul Thomsen told reporters.
"Hopefully, we will conclude positively soon, but we are not there yet."
EU and IMF officials are awaiting a report from the team to determine approval of the payment of an €8 billion loan to Greece. Concerns about a looming default mounted around the globe this week when euro-area finance ministers delayed a decision on the loan.
Greek finance minister Evangelos Venizelos said Greece has sufficient cash to meet its needs until mid-November as European officials turn to ways to fortify their banks and consider how to ease the country's debt load.
Luxembourg prime minister Jean-Claude Juncker said yesterday that international auditors will probably present their next report on Greek finances on October 24th and that he expects them to recommend paying the next tranche of aid.
"We need clarity about the sustainability of Greek debt," said Mr Juncker, who also heads the group of euro-area finance ministers. He said he's "full of hope" that Greece will meet the aid conditions, allowing "a positive decision" by the euro area to release the next loan instalment.
After the next payout, policy makers will have to look at whether they can "continue on this program track or have to think of something else to make Greece's debt sustainable," Mr Juncker said.
Support for prime minister George Papandreou's ruling party sank to the lowest level this year after the government proposed a new property tax and cuts to pensions and wages to qualify for the payment, according to a poll conducted for Kathimerini newspaper and SKAI TV.
Mr Papandreou presented a 2012 budget with €6.6 billion of savings this week as the government struggles to convince international creditors it can meet targets.
Meanwhile, Mr Venizelos pledged Greece would fully honour its bailout loans after meeting Germany's economy minister Phillip Roesler in Athens today.
Mr Roesler said Germany stands ready to defend the euro. "With the union of stability we can send a strong signal that we in Europe and the euro zone are ready to fight for our currency and defend it from attacks," he said.
Reuters
