Troika delegation arrives in Cyprus for the first review of the bailout implementation

By in

159fc61fd0fc009a5ca070136f874aef_LRepresentatives of Troika, the European Commission, the International Monetary Fund, and the European Central Bank have all arrived in Cyprus on the 17th of July.

They will comprehensively assess the implementation of the stabilization program of Cyprus, which was approved in March from the Eurogroup meeting. This will be the first serious analysis of the progress made from the Cypriot government.

According to statements made by the Cypriot Ministry of Finance and the Central Bank, both institutions are ready for the first test, which will be carried out every three months.

The conclusion of the Troika will form the basis of discussions on the allocation of the second tranche of financial aid to Cyprus, which will be submitted to the Eurogroup meeting on September 13th.

The first tranche of $ 3 billion went to the island in two transactions in May and early June.