Technical groups of Cyprus international lenders, widely known as Troika, are expected to Cyprus between 26-29 April with a view to completing the fifth review of the country`s economic adjustment program.
According to CNA sources, on April 26 the technical groups of European Commission, European Central Bank (ECB) and International Monetary Fund (IMF), will be arriving in Cyprus, while the consultation with the Cypriot side is expected to begin between 27-29 of April. However the program is not yet finalized.
According to the same sources, Troika will come to Cyprus, unless there are serious objections on the text of the insolvency framework voted by the House plenary last Saturday and which the Ministry of Finance has sent to Troika after the inclusion of the amendments added by Members of the Parliament. It is expected however that there will be no serious objections, since the changes put forward by the parties were discussed with the Ministry of Finance which was in close consultation with Troika.
Last February, Cyprus` international lenders completed their visit in Cyprus, saying that given the further suspension of the effective implementation of the insolvency framework, further evaluation of the program was not possible.
The adoption of the insolvency framework is expected to pave the way for the release of IMF`s €86 million contribution under the sixth tranche of Cyprus financial support and the access of the country to ECB`s quantitative easing program.