The board were reportedly told that while the IMF will participate in the new negotiations, the Fund will not decide on whether or not to agree a new programme for months.

On Wednesday, the fund’s managing director Christine Lagarde said “for any programme to fly, a significant debt restructuring should take place”, as otherwise the IMF’s projections have inked in Greek debt rising to 200% of GDP before the end of 2017.

The problem can not be solved with debt relief or structural reforms alone, he said, adding that both are necessary. “The differences between the IMF’s thinking about the debt issue and what the Europeans are now discussing are very large”.

“What is clear is that it will be a few time before the two sides are ready to take these decisions”.

The global Monetary Fund can participate in discussions over the latest financial rescue for Greece but cannot officially join the talks until after the fiscally beleaguered nation has agreed to comprehensive reforms, the Financial Times reported on Thursday.

At the early stages of the Greek crisis, the IMF waved the debt criteria because of rules allowing it to grant a bailout if there was “a high risk of worldwide systemic spillover”. The talks began after Eurozone leaders reached a preliminary deal on July 13 to provide a new bailout plan worth €86 billion ($94 billion at the current exchange rate) for Athens in exchange for tougher austerity reforms.

“The first leftist government in Europe after World War II is either supported by leftist deputies, or it is brought down by them because it is not considered leftist”, Tsipras said, addressing the party’s central committee meeting Thursday.