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Troika announces pause in aid discussions with Greece

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Troika announces pause in aid discussions with Greece

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(WASHINGTON) - Greece's international creditors announced Sunday a pause in their discussion with Athens over the release of rescue loans.

Teams from the International Monetary Fund, European Union and European Central Bank have been in the Greek capital since September 17 for a fresh audit of the country's finances.

The "troika" of donors said in a statement that the break would "allow completion of technical work" and that "the government's economic program has made good progress."

Discussions, they said, are to resume in the coming weeks.

Greek Finance Minister Yannis Stournaras indicated Saturday that negotiations were going "well."

In the past, "technical" pauses have sometimes been implemented by the international donors over obstacles with Athens as it grappled with accompanying austerity commitments.

On Tuesday, Greek civil servants went on strike for the second time since the beginning of the month, aiming to influence troika discussion on a vast reform of Greece's public sector and advancement of privatization in the country.

The troika and Greek authorities have different views on the timing of public sector layoffs.

Despite international rescue deals reached in 2010 and 2012, Greece continues to sink into recession with a GDP that fell 4.6 percent in the second quarter of 2013 amid soaring public debt and 27.9 percent record unemployment in June.

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