29 June 2018•Update: 29 June 2018
By Magda Panoutsopoulou
ATHENS
Greece is headed towards completing its third and final bailout package in August, the IMF said in a statement Friday.
"Greece has come a long way, but still faces many challenges," it said.
The country "will exit the program era having largely eliminated macroeconomic imbalances," the statement continued.
Uncertainties still remain, the IMF noted over Greece’s debt load sustainability despite last week’s agreement with European creditors to lighten the terms and make the massive debt more manageable.
The bailout program -- worth up to €86 billion euros ($100 billion) -- is expected to expire in August 2018.
Greece has been the recipient of three bailout deals since 2010.
It has worked to avoid bankruptcy with the financial help of the IMF, EU and the European Central Bank and borrowed what amounts to 260 billion euros ($306 billion).
