IMF Cyprus Resident Representative Vincenzo Guzzo told the Cyprus News Agency, “A successful completion of the reviews would make available about €280 million.”

A delegation of technocrats from theInternational Monetary Fund (IMF) will visit Cyprus during the second half of July for the next evaluation of the economic adjustment programme.

Guzzo said that discussions will likely focus on the implementation of the recently adopted foreclosure/insolvency framework and the progress on structural reforms to ensure fiscal sustainability and support growth.

Meanwhile, CNA reported that the Ministry of Finance and the Troika of international lenders have agreed on the framework for loan securitisation.

This is a prior action for the disbursement of the nextbailout tranche and the framework is expected to be tabled before the Council of Ministers for approval in June.

The meeting of the EU arm of the troika, the European Support Mechanism (ESM) will take place on June 18, 2015.

The disbursement is expected to be made at the end of June or at the beginning of July.

Source: InCyprus