During the first week representatives of the European Commission, the European Central Bank and the International Monetary Fund (IMF) are expected to examine all issues on a technocratic level, while in the second week discussions will start on a political level regarding the revised memorandum.

In the financial sector the Troika is expected to evaluate the progress achieved with regards to non-performing loans (NPLs) and the results of the evaluation carried out on the operational capacity of commercial bank's loan management units, which was completed at the end of March. Based on the bailout agreement, the same evaluation must be completed for the co-ops by May.

In terms of reform, the progress on a new framework to establish insolvency procedures for natural and legal persons will also be examined. The framework must be approved by Cabinet in May and relevant legislation must be approved by the House by December.

Another priority issue for the Troika is the healthcare sector, particularly the new roadmap for the implementation of the National Health Scheme, which must clarify the role of the Health Ministry and the Health Insurance Organisation. According to reports, a revised draft bill for the NHS has also been prepared by the Health Insurance Organisation.

Source: InCyprus