The Troika mission (European Commission, European Central Bank and the IMF) continues its meetings on Wednesday in the context of the second review of the Cypriot adjustment programme.
A number of meetings concerning public finances and structural changes will be held at Planning Bureau, while meetings on the banking sector will be held at Central Bank.
Troika technocrats are meeting with Auditor General Chrystalla Georghadji and technocrats from the Ministry of Labour and Social Insurance. Troika experts will also meet with officials from Ministry of Finance and the Central Bank of Cyprus.
Later on, analysts from the Bank of Cyprus will discuss with Troika technocrats the Bank’s macroeconomic forecasts (unemployment, growth rate, inflation), on the basis of which the Bank determines its projections on the non performing loans. A meeting will be held on the future of the economy, in the presence of members of the Institute of Certified Public Accountants of Cyprus (ICPAC).
Around midday, Troika technocrats and technocrats from the Ministry of Finance, the Ministry of Commerce and the Ministry of Communications will discuss privatization of semi governmental organizations.
Later on, technocrats from the Finance Ministry and the Central Bank will brief Troika delegation on issues related to the Financial Framework, while at the same time in another meeting a Troika team will discuss macroeconomic developments with delegations from the Cyprus Employers and Industrialists Federation and the Cyprus Chamber of Commerce and Industry and technocrats from Ministry of Finance and Central Bank.
In the afternoon, Troika technocrats will discuss with officials from the Ministry of Finance and the Statistical Service the system of the social welfare system in Cyprus.
In a different meeting, the Troika mission will discuss the action plan on tourism with a delegation from Cyprus Tourist Organisation and officials from the Ministry of Commerce, the Ministry of Communications and the Ministry of Finance.
Late in the afternoon, a meeting on issues of health and the General Health System will be held in the presence of officials from the Ministry of Health, the Health Insurance Organisation and the Ministry of Finance.
On March 25 Cyprus and the Troika agreed on a €10 billion bailout which featured an unprecedented haircut on uninsured deposits in a bid to recapitalize Bank of Cyprus, the island`s largest lender. The bailout also provided that Cyprus Popular Bank, the island`s second largest bank would be wound down with its good part absorbed by Bank of Cyprus.
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