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Troika concludes eighth review

Troika concludes eighth review Cyprus economic adjustment programme

Cyprus Finance Minister Harris Georgiades

FINANCE Minister Harris Georgiades announced on Friday that Cyprus has completed the eighth review of its economic adjustment programme, but warned that reforms must continue to improve the island’s economic performance.

Mr Georgiades anticipates that the eighth review will be the last and will be completed formally in mid-January after a Eurogroup meeting, which will be followed by the disbursement of a further tranche of the bailout loan.

It seems that a delegation from the troika of the island’s international lenders may not have sufficient time to carry out a further review before Cyprus exits the economic adjustment programme on 31st March 2016.

Prior actions

The troika has set four conditions (prior actions) for releasing the next bailout tranche:

I have no news on the various outstanding property-related issues but will update everyone as soon as the information is available.