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The representatives of the institutions will visit Athens in the next few days in order to begin the first evaluation of the Greek program, as Commissioner for Economic Affairs Pierre Moscovici announced.

The IMF on Friday issued an indirect but clear response to Eurogroup president's earlier comments over the sustainability of Greek debt, with Poul Thomsen, the head of the International Monetary Fund's European department saying that Greece cannot deal with its public debt through reforms alone and needs a significant extension of grace periods and longer maturities from its European creditors.

The International Monetary Fund has authorized an additional 126 million euros to Cyprus.