Greek Prime Minister Alexis Tsipras said after a meeting with Portuguese Prime Minister Antonio Costa that the International Monetary Fund was insisting on adopting wrong policies in Greece after having admitted its mistakes made in the two previous bailouts.

"In Greece wrong policies were applied. It is a paradox that those who recognised that there were wrong policies insist on applying the mistake while admitting their mistake and saying that it's not what we are doing that is wrong in saying you must implement it. But that you will not gladly implement it. It's an interesting opinion. But I think at some point we need to get serious, and we need to get serious because we are not talking about numbers but people," Tsipras said.

"We have to turn the page. Austerity policies do not provide solutions; they did not bring results in any of the countries where they were implemented. We believe it's a structural issue; we must set goals for development, for fighting unemployment, creating jobs, and to create more competitiveness for our economies and businesses and to return to the road of convergence with the European Union," Costa said.

Greece is still struggling to close a crucial review of its third bailout and is at a bottleneck with the International Monetary Fund on measures required to attain fiscal targets. Government sources said Monday that Greece and its international lenders are edging closer to a compromise on a review of bailout reforms that could unlock more aid to the country. That's after marathon talks with creditors. The review has dragged on for months mainly due to a rift among the lenders over Greece's projected fiscal shortfall by 2018.