The prospects for Cyprus economy are very positive and the results so far are concrete, Finance Minister Harris Georgiades has said, in statements to the Athens-Macedonian News Agency.
The Minister who is in Washington at the moment, attending the IMF and World Bank annual meeting, pointed out that for the first time since 2007 the unemployment is dropping. He expressed at the same time his optimism that a solution will be found regarding the non-performing loans.
He clarified that his presence in Washington is related with the annual IMF and World Bank meeting, however it is a very good opportunity to have a substantial discussion with the IMF regarding the progress made in efforts to exit the crisis and stabilise the economy.
Cyprus FinMin stressed that all these efforts must continue, adding that all the problems and `political difficulties` that have developed are typical in the course of such a demanding and extensive rescue program.
Invited to comment on the `thorny` issue of non-performing loans, Cyprus Minister said that it is an issue of efforts and time and that soon it will be dealt with.
Cyprus agreed with its international lenders collectively known as the Troika (EC, ECB, IMF) a €10 billion bailout. So far the country has received five tranches amounting to 5,77 billion from the EU and the IMF. The sixth tranche amounts to €436 millions (€350 mln from the ESM and €86 mln from the IMF).