Hours after Greek finance minister, Yanis Varoufakis indicated that Greece could run out of money within two weeks, new official figures reveal that the Greek government has just over €600m left in cash reserves.

The country's recent presidential decree which allowed the state to funnel money from public bodies into state accounts has seen €64.5m being transferred from local authorities in the Greek Central Bank according to a statement released earlier today.

Greek officials have told Reuters that the country was forced to dip into emergency IMF reserves to make today's €750m repayment to the organisation.

It is reported that €650m was taken from an IMF holding account. IMF member countries have two accounts, one where quotas are deposited - and a holding account that can be used for emergencies.

"We made use of money in our holding account in the fund," an official who declined to be named told the news agency, adding "The government also used about 100 million of its cash reserves."

Another official added that this money must be replenished during the next "several weeks."

EU institutions and the IMF have spent months deadlocked in negotiations to agree a cash-for-reform deal.

"We are making faster progress," said Dutch finance minister, Jeroen Dijsselbloem after yesterday's meeting, he added, "Some important issues have now been discussed in depth but more time is needed to bridge the remaining gaps and to reach a comprehensive agreement."

Greece has warned that the it faces a cash crunch in the next two weeks. "The liquidity issue is a terribly urgent issue. It's common knowledge, let's not beat around the bush," Mr Varoufakis said after yesterday's Eurogroup meeting.

He continued: "From the perspective (of timing), we are talking about the next couple of weeks."

The government in Athens now has until the end of June to submit new reform proposals. 

"If the Greek government thinks it must hold a referendum, then let it hold a referendum," said German Finance Minister, Wolfgang Schaeuble going into yesterday's meeting. This would allow the Greek government to seek a mandate to break election promises to push through economic reforms.

When this was put to Mr Varoufakis he said that this is one option - but it is not something which the Greek government is currently planning to do.