Greece on Tuesday will submit a list of fiscal reforms to euro zone finance ministers, missing a Monday deadline that was part of its last-minute deal to extend its financial aid, Reuters reported, citing a government official.
The official did not provide a reason for the late submission, but said that the Eurogroup had agreed to accept the reforms on Tuesday. Finance ministers will receive the list Tuesday morning and a teleconference will take place in the afternoon, Reuters said.
Athens will include policies to fight tax evasion and corruption, as well as measures designed to cut bureaucracy and reform the public sector, Reuters said. Measures will also seek to stop the issuance of bad loans and the foreclosure of primary homes.
After signing a deal on Friday, Greece had been scrambling to put together reform proposals in an effort to secure a much-needed extension of its bailout. Greece's left-wing government, led by Prime Minister Alexis Tspiras, received a lifeline Friday when the Eurogroup of euro zone finance ministers agreed to extend the country's financial aid by four months.
Under that deal, Greece must present a list of reforms to be approved by the so-called "troika," comprising the European Central Bank, International Monetary Fund and European Commission. Euro zone member states will then need to ratify the bailout extension.