IMF insists reduction of Greek banks' NPLs must be expedited

The International Monetary Fund (IMF) reiterated on Thursday that coordinated steps must be undertaken to expedite the reduction of nonperforming loans (NPLs) held by Greek banks.

Greece's creditors have long cited NPLs as a major vulnerability of the Greek economy.  

Speaking during a press briefing in Washington,  IMF spokesman Gerry Rice said that the organization's executive board will in March discuss the report drafted by the IMF mission which recently visited Athens within the context of Greece's post-bailout surveillance.