According to Greek finance minister, Yanis Varoufakis, Greece should enter an outline funding agreement with its lenders at a meeting of euro zone finance ministers. The meeting is scheduled to take place on April 24.

"At the Eurogroup (meeting) of April 24 there must be a preliminary conclusion (of the talks), as per the Eurogroup accord on February 20", said Varoufakis.

A new package of reforms has been offered by Greece in the hope of unlocking remaining funds from its bailout programme. But its EU and IMF have not yet signed EU and IMF. Since August last year, Athens has not got bailout help. According to experts, Athens has been hard pressed to cover payments amid a cash crunch.

According to a source with information of the issue, Greece had sufficient funds to last it until April 20. Varoufakis said that Greece planned to fulfill all obligations to all its creditors and also move to quell fears of a possible default ahead of a 450 million IMF euro loan repayment later this week.

The Finance Minister also said that they will not condemn the country as earlier governments did. It has been suggested that the EU/IMF lenders had not treated the earlier conservative-led government more strictly.

The negotiations will end when it will enter an honorable agreement. This agreement will provide the Greek economy the scene of real stabilization and substantive growth. The finance minister wants negotiations to be finished as soon as possible but he doesn't want to accept terms that suffocated the economy.