IMF Halts Greek Bailout Talks Over Lack of Progress

© AP Photo / Yorgos KarahalisRuined EU and Greek flags fly in tatters from a flag pole at a beach at Anavissos village, southwest of Athens, on Monday, March 16, 2015
Ruined EU and Greek flags fly in tatters from a flag pole at a beach at Anavissos village, southwest of Athens, on Monday, March 16, 2015 - Sputnik International
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The negotiators reached no progress in settling the Greek bailout issue.

MOSCOW (Sputnik) — The International Monetary Fund (IMF) said Thursday its team of negotiators had left Brussels after failing to make any progress with Greece on the country's bailout program.

“There are major differences between us in most key areas. There has been no progress in narrowing these differences recently. Thus, we are well away from an agreement,” IMF spokesman Gerry Rice was quoted as saying by The Wall Street Journal.

A Greek flag waves in the breeze at Acropolis hill, in Athens on June 5, 2015 - Sputnik International
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The IMF is one of Greece's biggest lenders, along with the European Union and the European Central Bank, to whom Greece owes approximately $270 billion of its overall $350-billion debt.

Earlier in June, Athens announced it had no money to make timely repayment on its debts.

The talks between Athens and its major lenders in Brussels focused on a debt relief deal before the expiration of a bailout plan, first agreed to in 2011 by Greece and the European Commission and due to expire at the end of June.

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