By Simon Miller

The International Monetary Fund (IMF) is due to discuss its part in the Greek bailout next week.

IMF spokesman Gerry Rice told reporters that while good progress had been made, a decision would depend on certain actions being carried out.

Rice said that the Fund had an interest in a successful debt swap in Greece although that would require a high participation rate.

He told reporters: "“Greek authorities agreed the framework of a program with the euro group. The next step is for the IMF to take that to our board for discussion. We think this program, while ambitious, can help Greece back on the road of growth and recovery.”

The board meeting is tentatively scheduled to meet on 15 March and Rice also said that the IMF was prepating a staff mission to Italy in the spring for the coutnry's annual economic review.

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