ATHENS, Greece, July 26 (UPI) -- Greek Finance Minister George Papaconstantinou said austerity measures in the country were on track to allow for a second allocation of international loans.
Greece has made a series of austerity budget moves to qualify for debt-reducing loans put together by the European Union and the International Monetary Fund. However, the IMF recently cited concerns with budgets for various programs, including healthcare and public transportation, the EUobserver reported Monday.
The IMF recommends privatization of several state-owned businesses, such as the railway system, which has lost money for years.
IMF, EU and European Central Bank officials are scheduled for a visit to Athens to scrutinize the country's budget this week.
The second funding tranche is set at about $11.6 billion.
