Nicosia.- Cyprus` international lenders, the Troika (EC, ECB and IMF), begins on July15 its fifth evaluation of the country’s economic adjustment program. Troika`s delegation arrives in Cyprus on Monday, July 14th, and on Tuesday begins its meetings with Cyprus officials.
According to CNA sources, the head of international lenders will have a meeting with the Finance Minister Haris Georgiades
The big percentage of the non performing loans (NPL) is expected to be one of the hot issues to be discussed during Troika`s contacts. According to the latest data released by the Central Bank of Cyprus, the NPLs reaches 45% of the total loans or 27.1 billion Euro in a total of 60 billion Euro.
Troika`s meetings will last until July 29 and then the discussions between the head of the delegation and the Minister of Finance on the updated Memorandum will take place.