The government is open to feedback from the parties that will improve on its foreclosures bill, and has already relayed to the troika a number of these proposals, Finance Minister Harris Georgiades said recently.

The reform of public health care has brought a much needed inflow of euros into parched state coffers, it was reported recently.

Property sales have marked a significant increase this year in anticipation of a new regime that will be caused by the repossession of mortgaged properties, with particular interest by foreign buyers.

A new Finance Ministry bill aims to stop banks increasing their loan profit margins by arbitrarily increasing lending rates.

In a deal signed recently, TUI has captured one of Cyprus’ premier properties, the Sensatori Resort Aphrodite Hills near Paphos.

The number of building permits dropped by 8,2% from January to May, 2014, compared to the corresponding period in 2013, the Cyprus' Statistical Service said recently.

The government continues to try convince political parties of the merits of the revised foreclosures bill that needs to be passed by parliament in order to secure the next tranche of €453 mln in bailout money from the Troika.

Cyprus has an “elevated risk of default in the medium-term” Moody’s ratings agency said recently, despite the island’s good performance in the bailout adjustment programme.

Delia Velculescu, IMF’s Mission Chief for Cyprus will be moving on to another assignment at the end of September 2014, as part of her regular career progression, the organization said recently.

The government said while it always takes credit rating agencies' announcements under advisement, it wished to point out that Moody's had projected a 12% recession in 2013, which proved much softer at 5.4%.