Greek reform plan comprehensive but needs further details: IMF's Lagarde

Greece's reform plan is "sufficiently comprehensive" to continue aid review for the country, but still needs further details on important reform areas, International Monetary Fund (IMF) chief Christine Lagarde said on Tuesday.

In a letter to Eurogroup President Jeroen Dijsselbloem, Lagarde said that the list of measures prepared by the Greek authorities is comprehensive but generally not very specific.

The IMF chief said that it's encouraging to see the new authorities in Athens shows stronger resolve on such areas as combating tax evasion and corruption. But in quite a few areas, including perhaps the most important ones, the list is not conveying clear assurances that the Greek government intends to undertake the reforms envisaged.

"There are neither clear commitments to design and implement the envisaged comprehensive pension and value-added tax policy reforms, nor unequivocal undertakings to continue already-agreed policies for opening up closed sectors, for administrative reforms, for privatization, and for labor market reforms," said Lagarde.

Eurogroup financial ministers on Tuesday approved a four-month extension aid program for Greece, which is still subject to approval of member state parliaments. Endi