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Reforms, NPLs in focus

05/11/2015 09:50
Issues of development strategy, port authority and the reform of the public service will be in focus in today's meetings of Troika teams, which continue the review of the implementation of the Cyprus memorandum for a third day.

Troika technocrats will discuss this morning at the general directorate of European programs, coordination and growth, issues of development strategy, according to the CNA, while at the Ministry of Finance another team of Cyprus’ creditors will discuss the management of public finances and the reform of the public service.

In the afternoon issues relating to the Port Authority’s privatization and to the use of state land will be discussed while the debate which began yesterday on the issuance of title deeds, will continue.

At 15:00, business organizations, OEB and CCCI, will discuss with the troika, issues including the state of the real economy, business issues, collective bargaining and the adjustment of workers benefits.

At the Central Bank, meetings will be held between technocrats of Troika and CB to examine a series of issues related to the financial sector and the progress in the implementation of the remaining memorandum obligations.

It is noted that the financial sector issues examined in the review include the management of NPLs, the bill on the sale of loans and the securitization framework, the implementation of the insolvency framework, the new legislation on foreclosures and legislation on “trapped” property buyers.