IMF calls for 'more progress' on Greece bailout plan

The International Monetary Fund called for European countries to push ahead to reach a compromise on bailout reforms needed to unlock aid to Greece.

The IMF welcomed the Brussels meeting Monday where eurozone ministers said they had made some progress in the months-old dispute, with Greece agreeing to new bailout reforms.

But the IMF, which was a partner with the European Union in the first two Greek bailouts but has not participated in the current third rescue, said it was sending back a mission to Greece but more work was needed.

"More progress will be needed to bridge differences on other important issues; and it is too early to speculate about the prospect for reaching staff-level agreement during this mission," the IMF said in a brief statement.