Greece's international lenders concluded talks Sunday with the government over public sector reforms, clearing the way for the cash-strapped country to receive its next aid installment worth up to 8.1 billion euros (10.4 billion dollars). Poul Thomsen, the head of the International Monetary Fund's (IMF's) mission to Greece, described meetings with Greek authorities as "very good." A positive assessment by the so-called troika of experts from the European Commission, European Central Bank and the IMF is crucial in determining whether Athens receives its next tranche of rescue funds, dpa reported. Eurozone finance ministers meeting Monday would have to approve the aid, which could be carved into several smaller disbursements that would be conditional on further progress from Athens. The creditors' main demand is reforming the country's bloated public sector, including the elimination of 4,000 state jobs by the end of the year and the involuntary transfer of 15,000 civil servants between departments. A rescue programme totaling 240 billion euros has already been committed to Athens by EU institutions and the IMF. Austerity measures that include salary and pension cuts paired with tax hikes have helped reduce the country's budget deficit but at the same time has left it deeper in recession than what the IMF and its European partners had initially forecast. Unemployment has surged to more than 27 per cent.
