A Troika (EC, IMF, ECB) delegation, currently on the island to conduct its 7th assessment of Cyprus’ economic adjustment programme, will hold a meeting today with the members of the House Committee on Finances.
In addition, the delegation of Cyprus` international lenders will meet in the afternoon with the Chairman and the members of the board of the Hellenic Bank.
The Troika delegation has held already a series of meetings with various interlocutros, including the Minister of Finance Haris Georgiades, the Governor of the Central Bank of Cyprus Chrystalla Georghadji and the Minister of Energy, Commerce, Industry and Tourism Giorgos Lakkotrypis. They also began meetings with representatives of parliamentary parties.
A positive assessment would allow the disbursement of 500 million euros, to be used by the Government to repay a European bond (EMTN), which expires next November, amounting to one billion euros.
Following the Troika visit, Cyprus will focus on the preparation of its 2016 budget which is expected to be the last one to be drafted in the framework of the memorandum with the international lenders.
In its review, the Troika is expected to note the progress achieved on the sales of loans and the issuing of property titles to those buyers who are faced with problems due to pending responsibilities of land developers.
On the contrary, the Troika is expected to stress the need for more progress as regards the reform of the public service, privatizations, especially of the telecommunications authority Cyta and the ports, as well as the autonomy of hospitals.