A high-ranking Eurozone official on Monday said that Eurogroup will approve next tranche for Cyprus, which will be disbursed in July, during its meeting Thursday in Luxembourg.
The official noted that Cyprus` rescue program fourth assessment was pretty `clear`, the program is on track and the implementation is `very, very good`. He noted however that there are still challenges, namely non performing loans.
The Eurogroup, he added, is expected to approve next tranche of 600 mln euro beginning of July and another 100 mln will be paid out by IMF, which will follow its own procedures.
He also said that all capital restrictions have been lifted in Cyprus, despite press reviews that this would have taken some time.
Cyprus received a 10-billion-euro bailout from lenders in March 2013 and is following a three-year economic adjustment programme.
