ECONOMY

Greece said to make progress on call with euro-area officials

Greece and euro-area authorities pledged to press ahead with efforts to release aid payments after progress in recent days, according to a Greek Finance Ministry official with knowledge of a conference call held Wednesday.

Two euro-area officials agreed with that assessment, recognizing the advances by Greece while insisting that more work needs to be done to reach a conclusion of this part of rescue. All three asked not to be named because the discussion was private.

Greece sent its creditors more details on its budget and economic proposals, the Greek official told reporters in Athens. Finance deputies sought Wednesday’s conference call to take stock of the negotiations so far.

To tap rescue funds, Greece must win approval from the negotiating trio of the International Monetary Fund, the European Commission and the European Central Bank, now known as the Brussels Group. If Prime Minister Alexis Tsipras can strike a deal with the creditors’ group, it will pave the way for euro- area finance ministers to meet.

Finance deputies stand ready to make recommendations to their ministers as soon as there is a deal between the Greek government and the institutions, one of the euro-area officials said.

[Bloomberg]