Troika Starts Cyprus' Fifth Assessment Today
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.
(Source: www.parikiaki.com)
Related items
- Hatzidakis in Washington for IMF and World Bank meetings
- IMF: Reduction of Greek public debt to 158.8% of GDP in 2024—Primary surplus of 2.1%
- PM Mitsotakis from Brussels: EU aims to prevent Middle East crisis escalation
- Mitsotakis: Eurobonds exclusively for the defense security of Europe
- EU defense ministers agree to Greece's proposal to run Red Sea operation from Larissa HQ