Technocrats from the European Commission, the European Central Bank and the International Monetary Fund, are meeting with government officials to focus on framework legislation regulating insolvency, which is currently being drafted by the government.

Talks between the Troika and Ministry of Finance include bills on examiner-ship, liquidation, administration, and discharge of debts, Consultant of Insolvency and bankruptcy.

The Technocrats of Troika will also have contacts at the Central Bank, where they will discuss the latest developments in financial matters, including the Non-Performing Loans, capital controls and the central credit registry.

Since the bailout last year, Cyprus has so far Cyprus has received five tranches amounting to €5,77 billion from the EU and the IMF. The sixth tranche amounts to €436 (€350 from the ESM and €86 from the IMF).

Source: Famagusta Gazette