articles | 04 April 2017

EuroGroup to discuss Cyprus' post-program monitoring

The post-program surveillance report on Cyprus will be the last item in the agenda of the informal Eurogroup in Malta on Friday, as announced by the Council on Tuesday.

According to the agenda item, Ministers will be briefed by the institutions on the initial findings of the second post-program surveillance mission that took place at the end of March.

The Council specifies that post-program surveillance is carried out in countries that have recently closed a financial assistance program. The aim of such surveillance is to assess whether there is any risk that the country may not be able to repay its loans received under the program. The surveillance stops when the country has repaid about 75% of the loan.

Meanwhile, Greece will also be discussed at the opening of the works of the informal meeting. The Eurogroup will be briefed on the progress achieved in the talks between the institutions (the European Commission, the European Central Bank, the European Stability Mechanism and the International Monetary Fund) and the Greek authorities since the previous Eurogroup meeting in March.

Source: Sigma Live

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