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)