International debt inspectors have reached an agreement with Greece on the country's economic reforms, including the firing of civil servants, paving the way for the debt-ridden country to receive the next installment of its bailout pot.

The review by the International Monetary Fund, European Commission and European Central Bank is part of a regular process under which Greece receives installments of its multi-billion euro bailout if it meets certain conditions. Greece has been dependent on the rescue loans since 2010.

In a joint statement Monday, the three institutions said recent steps taken by Greece suggest that targets for March "are likely to be met in the near future." As a result, they said the eurozone could soon agree to disburse 2.8 billion euros ($3.7 billion) pending from last month.