David Hawley, senior advisor from External Relations of IMF, said that negotiations are ongoing and will continue as long as needed.

"All parties involved understand the importance of reaching agreement," he said.

When the program for Greece was designed, the government made the decision the debt would be repaid and guarantees would be honored. "These assumptions were incorporated into the program framework and they still hold," Hawley added.

The fourth review mission is tentatively scheduled to visit starting in early May. The focus of this mission will be to assess the policy implementation overall of the program.

He said: "The focus will be on ensuring that policies continue to be calibrated in a way to deliver on program objectives. If you want specificity, we're going to look at several key policy milestones including the medium term fiscal strategy, the authorities plan for privatization and real estate development and banks medium term funding plans."

Hawley also expressed that the IMF had good discussions with the Egyptian authorities on the challenges Egypt is facing and how the IMF can help.

"We have not gotten to the point where the authorities have made a formal request," he said.

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