Today brought Troika's fifth analysis of the Cypriot economy and banking sector, with a special emphasis on nonperforming loans, according to international reports.
As confirmed by the nation's Central Bank, 45% of its loans in total are nonperforming. Cyprus currently holds the highest amount of nonperforming loans in Europe which amounts to nearly 140% of its GDP, according to the International Monetary Fund.
This week's study will examine bank revamps, a planned national health mechanism, and ways to address nonperforming loans and home recoveries. Troika has consistently commended Cyprus for the manner in which it has administered bailout mandates.
To receive its next scheduled aid package, the country must pass the current Troika assessment. International monetary entities predict that Cyprus will overcome the recession in 2015.
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