World Economy

Troika in Cyprus

Troika in CyprusTroika in Cyprus

The auditors of the European Commission, the European Central Bank and the International Monetary Fund started Monday reviewing progress in implementation of new legislation concerning the banking sector, the Central Bank of Cyprus said, Business Review reported. The auditors of the troika, as the auditors supervising bailouts in the euro area are also known, will review “issues related to restructurings of non-performing loans and supervision and will meet the banks as well as the ECB delegation supervising Cyprus’s systemic banks,” a Central Bank of Cyprus’s spokesperson said in an emailed statement. The auditors will remain in Cyprus until April 30 and will return to Cyprus on May 6 and will stay until May 8, the spokesperson said.