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Greek Finance Minister Continues Talks

By Cina Coren

Cina Coren is a former Wall Street broker and financial advisor. She holds a Master's degree in Communications and spent many years writing for international news outlets and journalistic publications. Today, Cina spends most of her time writing internet articles and blogs, and reading various newspapers to stay on top of the news. ...

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Greek Finance Minister Yanis Varoufakis will meet International Monetary Fund Managing Director Christine Lagarde in Washington on Sunday to discuss a set of planned reforms that Athens hopes will unlock much-needed bailout funds.

The unexpected meeting would be "an informal discussion" on Greece's reform plan, the finance ministry and the IMF said. Varoufakis is also expected to meet U.S. Treasury officials on Monday.

Greece is fast running out of cash and its euro zone and International Monetary Fund lenders have frozen bailout aid until the leftist-led government reaches agreement on a package of reforms.

Talks with lenders have been have been tense and slow-moving. Greek officials suggested this week that the government would prioritize spending on wages and pensions over meeting the conditions necessary to unblock a roughly 450 million euro loan tranche to the IMF due on April 9, making markets nervous and reviving fears of a Greek default.

Athens denied that was its intention, with government spokesman Gabriel Sakellaridis saying there is "no chance that Greece will not meet its obligations to the IMF".

Greece has not received bailout funds since August last year and has resorted to measures such as borrowing from state entities via repo transactions to tide it over.

After a first set of planned measures failed to impress lenders, Athens, on Wednesday, sent a more detailed list to institutions representing the creditors - the European Commission, the European Central Bank and the IMF.

EU officials have said that progress had been made in talks but more work was needed for a deal to be reached.

Cina Coren is a former Wall Street broker and financial advisor. She holds a Master's degree in Communications and spent many years writing for international news outlets and journalistic publications. Today, Cina spends most of her time writing internet articles and blogs, and reading various newspapers to stay on top of the news.

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