ANKARA
Greece’s institutional creditors have reacted to allegations from the country’s finance ministry that they were obstructing bailout negotiations.
“The European Commission, the European Central Bank and the International Monetary Fund share the same objective of helping Greece achieve financial stability and growth,” the three institutions, once known as the "Troika," said in a statement late on Wednesday.
"The institutions continue to work closely together toward that goal. All three institutions are working hard to achieve concrete progress on May 11," the statement said.
The three organizations are now referred to as "institutions," because their role in the negotiations has changed. Greece negotiates bailout issues with the Eurogroup of 19 EU member states.
Technical data and specifics are being verified by the institutions.
Greece will hold formal negotiations with the Eurogroup on May 11. The country must make a €750 million ($850.8 million) payment to the IMF on Wednesday, May 12.
It is not clear whether Greece can make the payment, and a Greek default would create a systemic challenge to the global financial system, analysts say.
