WASHINGTON: The IMF’s proposed compromise on Greece raises hopes it will break a deadlock with Europe next week and open the way for the release of desperately needed funds for Athens, averting a renewed crisis in July.

The International Monetary Fund is not bending its rules to help crisis-ridden Greece, but is helping to resolve an impasse over a new aid program, while continuing to insist on steps to reduce the country’s massive debt burden, an IMF spokesman said Thursday.