Greek fears played down by IMF

<p>The IMF has moved to allay fears over Greek financing.</p>

The International Monetary Fund (IMF) has moved quickly to assure investors that no financing problems will arise in Greece.

It was noted by the body that as long as the current review of the country's bailout programme is brought to an end by the close of July, there will be no issues.

The IMF was responding to a report published by the Financial Times, which stated the Fund was preparing to suspend aid payments to Greece.

IMF spokesman Gerry Rice said a recent mission to the country had made "important progress", adding: "There is an ongoing review of the Greek programme. The priority remains for the Greek authorities to deliver on the programme quickly."

It was stressed by the IMF spokesman that the programme is financed till the end of July 2014, so as long as targets are met it is not expected that any problems are going to arise.

Unemployment is currently very high in Greece and official data recently revealed that the jobless rate in the country has reached 25 per cent, the same level as in Spain.

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