Wait and see, lenders tell Greece on bid to rescind pension cuts

A bid by Greece to rescind pension cuts mandated for next year remains on hold after its international creditors withheld instant approval during their first post-bailout inspection of the country's finances, which ended on Friday.

Greece emerged from the biggest economic rescue in history in late August after almost nine years of austerity. It still owes billions, and remains under monitoring by the European Union and International Monetary Fund to ensure it does not deviate from fiscal targets.

Government data released on Friday showed it easily beat its primary budget surplus target in the eight months to August.

Athens argues it has enough leeway to unwind cuts in pensions of up to 18 percent that are scheduled to kick in from January, while maintaining the healthy surplus its lenders say it needs in order to keep its finances on a sustainable trajectory. But...

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