Gov’t happy as MPs pass foreclosure bills

President Nikos Christodoulides expressed satisfaction with the passage of a set of bills on foreclosures on Friday, underscoring a commitment to expedite proceedings addressing risks to the country’s economy from non-performing exposures.


Foreclosure saga gets ugly

The foreclosure row rumbles on as the latest episode in the saga played out when parliament voted against two non-government bills regarding the rights of borrowers defaulting on their mortgage. At the


IMF says no to CoLA rise, warns of NPLs

The International Monetary Fund (IMF) warned the government against increasing the Cost-of-Living Allowance while pointing to threats posed by a possible rise in Non-Performing Loans due to hiking interest rates. The IMF


Banking system NPLS remain at 10.5%

Non-performing loans in the Cyprus banking system remained unchanged in November, with the NPL rate to total loans at 10.5%, according to the central bank. According to the latest data, total NPLs

Cyprus seeks rent scheme to tackle €3 bln NPLs

Cyprus and the EU are expediting the process to transform the state-owned Asset Management Company (KEDIPES) into a nationwide AMG to launch a mortgage-to-rent scheme. The scheme will cover non-performing loans collateralised

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