By Anna Yukhananov WASHINGTON (Reuters) - Greece has made progress in reducing government debt and improving its competitiveness, but needs to follow through on structural reforms to ensure its economy recovers, the IMF said on Monday after a mission visit to the country.

The International Monetary Fund said Monday it is "carefully" monitoring massive capital flows into Asia and urged the region's policymakers to guard against risks of overheating. The level of the inflows -- which have sent Asian stocks and property prices skyrocketing -- are close to or above historical trends in most economies including those in Southeast Asia, the IMF said. "We are seeing financial pressures -- you may call them imbalances, or the risk of imbalances -- rising," said Anoop Singh, director for the IMF Asia and Pacific Department.

The International Monetary Fund urged Pakistan's government to put more effort into stabilizing the country's struggling economy, after meetings between officials from both sides in Washington last week. IMF Pakistan Mission Chief Jeffrey Franks said the lender had not received any official request for an aid program from Pakistan's top financial officials amid "fruitful discussions" during the spring meetings of the IMF and World Bank last week. "We have not received a formal request for a program from the authorities," Franks said in a statement.

The International Monetary Fund will remain engaged in loan negotiations with Egypt but wants the international community to provide financing, too, IMF chief Christine Lagarde said Saturday. "It's a task and we will not give up, we will not leave the table," Lagarde said at a news conference during the IMF and World Bank spring meetings in Washington. For several months, the IMF and Egypt have been in talks about a multibillion-dollar IMF loan that is contingent on strong support from domestic political actors and a commitment to key reforms.