Troika technical groups are expected to return to Cyprus between April 26 and 29 with a view to completing the fifth review of the country’s economic adjustment programme.According to Cyprus News Agency sources, on April 26 the technical groups of European Commission, European Central Bank (ECB) and International Monetary Fund (IMF) will arrive on the island, while consultations with Cypriot authorities are expected to begin on April 27.
According to the same sources, the Troika officials will visit Cyprus unless there are serious objections on the text of the insolvency framework passed by the House on Saturday and which has been forwarded to them. No serious objections are expected as the changes put forward by the parties were discussed with the Ministry of Finance which was in close consultation with the Troika.
The adoption of the insolvency framework is expected to pave the way for the IMF to release €86 million under the sixth tranche of Cyprus’ financial support and the access of the country to ECB’s quantitative easing programme.