The International Monetary Fund (IMF) has walked away from talks with Greece over an extension of the country’s bailout program over lack of progress.
Negotiators have been trying to find a way to avert a Greek default on maturing loans.
But the Wall Street Journal is reporting the IMF has quit the talks, citing IMF spokesman Gerry Rice as saying the two sides have major differences in most key areas.
The move officially puts the discussions on hold, although they have been all but suspended for several days already, according to WSJ.
However, talks among government leaders are expected to continue to break the deadlock over Athens’ refusal to sign on to drastic austerity measures and how the bailout plan will be managed and by whom.
IMF managing director Christine Lagarde will travel to Europe next week to brief eurozone officials about the status of the discussions, says WSJ.
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