- Cyprus Property News Magazine - https://www.news.cyprus-property-buyers.com -

The troika returns to Cyprus

A DELEGATION from the International Monetary Fund (IMF), the European Commission (EC), the European Central Bank (ECB) and the European Stability Mechanism (ESM), will visit Cyprus between 25 and 28 September for its third post-programme surveillance following the island’s successful exit from the economic adjustment programme last year.

The troika mission will examine a range of issues relating to the economy, public finances, reforms and the financial sector.

The troika mission will examine the state of the Cypriot economy, public finances and the projections on their progress, the 2018 state budget and structural reforms that are underway.

The structural reforms relate to the implementation of the national health system, the six bills for modernising public administration, local government reform, establishment of a National Investment Fund and the exploitation of state property.

During their contacts with the Central Bank, the troika representatives will focus on the non-performing loans and their restructuring.

The technocrats are expected to meet with the Minister of Finance Harris Georgiades and the Central Bank Governor Chrystalla Georgadji.

Cyprus is now subject to post-programme surveillance until at least 75% of the financial assistance it received as part of the bailout agreement has been repaid.