Cyprus Mail

Eurozone finmins to approve next bailout tranche for Cyprus – document

File photo Eurogroup chairman Jeroen Dijsselbloem and Cyprus Finance Minister Harris Georgiades (R)

Eurozone finance ministers will approve on Thursday the disbursement of the next tranche of bailout loans for Cyprus after the country met the remaining two conditions for the payout, a document prepared for the meeting showed.

To get the €350 million tranche from the European Stability Mechanism — the eurozone bailout fund — Nicosia had to amend laws on foreclosures and forced sales of mortgaged property in line with a deal with its international lenders.  It was  not immediately known whether the International Monetary Fund will also release its share — a further €86 million

“The programme partners find that Cyprus has complied with the conditions for a positive conclusion of the fifth review,” the document said, adding that the disbursement would be recommended so long as this situation remained unchanged. (Reuters)

Related posts

Land department denies nefarious goings-on over land valuations

Elias Hazou

Walkers complain of dangerous mountain trails

Annette Chrysostomou

Paphos district residents call for removal of phone masts from area, citing cancer cluster

Lizzy Ioannidou

Turkish superiority should not distract us from the aim to find a Cyprus solution, House President says

Source: Cyprus News Agency

Audit firms face increased compliance requirements

CM Guest Columnist

Ozersay departs for New York, Akinci to follow on Monday

Lizzy Ioannidou


Comments are closed.