Athens needs the 130bn euros (£110bn; $170bn) in order to avoid bankruptcy in mid-March, when a huge repayment on its governmental debt must be made.
On Sunday Greek PM Lucas Papademos went to Brussels to try to clinch the deal.
US Treasury Secretary Timothy Geithner said the US was encouraging the IMF to support the bailout, but it is not clear how much the IMF will contribute.
The rescue plan would also write off 100bn euros of debt, with private lenders accepting a 70% reduction in what Greece owes them.EU PUTS MORE PRESSURE ON GREECE:
An EU official says some euro countries are pushing for Greece to funnel government revenue into a separately managed account dedicated to servicing its debts — an unprecedented intrusion into a sovereign country’s fiscal affairs.
Germany has made the creation of such an escrow account a precondition for giving Greece a €130 billion bailout.
But until now, it has been unclear whether the account — which would give debt and interest payments priority over paying for government services — would only contain bailout money or also money from Greek taxpayers.
The official said yesterday forcing Greece to channel government revenue into the account "is not off the table."STAY TUNED...