Cyprus

Troika starts new round of contacts in Cyprus

by fm

29th January 2014

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1 min read

The Troika of international lenders (European Commission, ECB, IMF) starts on Wednesday a new round of contacts in the island, as part of the third review mission of the Cypriot adjustment program.

Cyprus is implementing a fiscal consolidation programme, concluded at a Eurogroup meeting last Spring, in return for a €10 bln loan the country received from its lenders.
As CNA learns, the focus of today’s contacts with Central Bank technocrats will lay on supervision matters, the Bank of Cyprus and non-performing loans (NPLs).

The two sides are expected to review this morning a series of issues concerning the financial sector, such as liquidity matters, interest rates, NPLs and the implementation of a roadmap for the gradual relaxation of restrictive measures on transactions.
They will also discuss supervision and corporate governance, as well as issues related to the Bank of Cyprus.