There has been "some progress" in talks between Greece and its international creditors, said Christine Lagarde, the managing director of the International Monetary Fund, on Tuesday. Greece has been locked in a negotiation impasse with the European Commission, the European Central Bank and the IMF over the release of the next tranche of bailout cash. The discussions are "constant" and the situation is difficult, Lagarde said. The creditors won't disburse the money until Athens agrees to a set of economic overhauls, but the anti-austerity government is refusing to accept strict reforms it says will hurt the Greek people. Private sector economists say that the next two weeks will be crucial for Greece as the country is running short of cash.
Copyright © 2015 MarketWatch, Inc.
Continue Reading Below