The International Monetary Fund (IMF) has admitted that its growth projection for Greece might be too optimistic and might be difficult to achieve.

The global financial institution also said that it had to lower the standard for debt sustainability in order to bail out Greece from its financial crisis. The IMF is among the three international lenders, which offered assistance in 2012 in order to help the Greek government avoid a monetary default on payments of its debt obligations and resulting in the exit of the country from the Eurozone.

The IMF pledged about 30 billion euros or $39 billion to Greece out of the total bailout package of 110 billion euros. IMF board members have criticised the move to offer so much money to the country in comparison to the size of its economy. The IMF has also been accused of being influenced by its European members. It had insisted Greece's debt levels were sustainable if the growth projections were met. This is the first time that the fund has admitted that it had to lower its standard to help Greece.

"There was, however, a tension between the need to support Greece and the concern that debt was not sustainable with high probability. In response, the exceptional access criterion was amended to lower the bar for debt sustainability in systemic cases," according to the IMF's evaluation.