IMF to approve next Cyprus tranche on Monday

The International Monetary Fund is set to decide on Monday over the disbursement of an 86 mln euros tranche to Cyprus.
The Fund’s Executive Board will discuss the fourth review of the Cyprus economic performance under a three-year programme agreed between the Cypriot authorities and the Troika of international lenders, that is the IMF, the European Commission and the European Central Bank.
Sources have said that the report prepared by the Chief of the IMF’s mission to Cyprus, Delia Velculescu, is positive and notes that the set targets are met on time.
The same sources also said that the next Troika mission to Cyprus is scheduled to start on July 15 and conclude two weeks later, on July 29.