EU and IMF back aid payment to Greece - The Best from Greece

The European Union and IMF's "troika" mission to Greece has recommended paying out a sixth aid tranche as soon as possible despite finding "extremely worrying" government debt dynamics, according to a draft of its long-awaited report.

The draft says Greece's economic downturn is substantially more than expected and mid-term growth forecasts might need revising downwards.

But additional government measures on income and spending would allow Greece to reach its deficit targets in 2012, though not in 2011, it says.

"The (joint European Union/European Central Bank/International Monetary Fund) Commission services recommend the sixth disbursement to Greece to take place as soon as possible.

"As soon as the agreed prior actions on fiscal consolidation, privatization and labor market reform, which were announced by the government, have been legislated," the draft report said.