Officials say talks between Greece and its international creditors on how to stave off bankruptcy have made headway and will continue with the aim of reaching an agreement later this month.

Officials both in Brussels and Athens said progress was visible during talks involving Greek, eurozone and International Monetary Fund negotiators over the weekend, and said negotiations would continue.

An official in Athens, who like others spoke on condition of anonymity because the talks were ongoing, said Monday, May 4, that "there have been many important steps that bring an agreement closer."

A eurozone official said there was "convergence on some issues" while more work was needed on others, without elaborating.

If bailout talks collapse, Greece could be facing an exit out of the euro.