Greece has submitted a "realistic" reform plan to its international creditors that includes concessions, Prime Minister Alexis Tsipras said on Tuesday.

"Last night a complete plan was submitted" to the creditors, Tsipras told reporters, calling it a "realistic" blueprint to take the country out of its recession and poverty crisis.

Tsipras did not give details on his government's proposals, but spoke of "concessions that will be difficult".

The PM was speaking amid speculation that Athens was about to receive an ultimatum from its creditors after four months of talks on the country's reforms that have failed to produce a breakthrough.

The heads of the IMF and the European Central Bank on Monday held talks with the leaders of Germany and France, and the head of the European Commission to reportedly come up with a "final proposal" to Athens.

The creditors in Europe and the IMF are pushing for greater reforms in return for the cash, which Greece's anti-austerity government has refused to match.

Greece is staring at a Friday deadline to repay over 300 million euros ($328 million) it owes to the IMF.

There are fears Greece does not have the necessary funds and will default, possibly setting off a chain-reaction that could end with a messy exit from the eurozone.
Source: AFP