Cyprus targeted on pensions again

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CYPRUS - The Cypriot government has once again been forced to face its bleak pension reality with the International Monetary Fund declaring urgent reform was needed in addition to the steps taken to address aging-related expenditure pressures.

Just last Tuesday, the European Commission issued a report that revealed Cyprus’s pensions expenditure was set for the steepest rise of any member state over the next 43 years. The projected 12...

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