IMF, Berlin still divided over Greek debt but progress in sight

A meeting of the so-called Washington Group - representatives of Greece's creditors as well as the governments of Germany, France, Spain and Italy, the biggest eurozone economies - failed to break a deadlock over the Greek debt as the International Monetary Fund and Berlin remain divided on the length of an upfront extension on bailout loans.

The Washington Group meeting coincided with the Eurogroup in Brussels, where eurozone finance ministers were expected to ratify the staff-level agreement (SLA) between Greece and its creditors and pave the way for a bailout exit in August.

Despite the disagreements between Berlin and the IMF over Greece's debt, senior officials reckon that both sides are showing some flexibility, albeit limited.

With the clock ticking, negotiations on the matter are expected to continue in the coming days, as the IMF wants to know what sort...

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