Meanwhile according to well-informed sources in Washington, the Governing Board of the International Monetary Fund (IMF) will carry out a single examination of the fifth and sixth review of Cyprus` adjustment programme.

The discussion will take place sometime in January 2015 and the disbursement of both tranches of the loan (about €167 million) is set for February.

Brussels has already agreed to release €350m in rescue loans in December after Nicosia resolved the issue on foreclosure legislation.

According to the same sources, the next visit to Cyprus by the Troika (IMF, ECB and EU Commission) for the sixth review of the programme will take place in early December and following that a single report will be submitted to the IMF Board on the fifth and sixth review.

A visit of the technical teams of Troika will be held between 10-14 November. A scheduled meeting of the IMF Board, in late September, on the fifth review of Cyprus' programme was cancelled due to a disagreement of international lenders with amendments adopted by the House of Representatives on foreclosures legislation.

Cyprus agreed on March 2013 with its international lenders a €10 billion bailout.

Source: InCyprus