BRUSSELS, May 19 (Xinhua) -- Greece and its international creditors has reached a staff-level agreement over the 4th or final bailout review, according to a statement by the European Institutions on Saturday.

"A staff-level agreement has been reached on a package of reforms required for the successful completion of the 4th review of the European Stability Mechanism program. This agreement will be presented to the Eurogroup of 24 May 2018," according to an EU statement.

The completion of the staff level or technical agreement paves the way for discussion of debt relief measures at the May 24 meeting.

Greece is set to exit its international bailout in August, though work remains to be done.

"The Greek authorities aim to implement these measures as swiftly as possible in advance of the Eurogroup of 21 June 2018. To this end, intensive exchanges between the Institutions and the Greek authorities will continue in the coming weeks," the statement added.