Cyprus: Disbursement of next tranche stumbles on the disposals bill

Cyprus: Disbursement of next tranche stumbles on the disposals bill

 

Review Hari Stefanatos

The warning that the financial situation of Cyprus can remain stable for some months, but if the issue with the law on disposals of property is not resolved, there will be a problem, addressed on Wednesday, the Finance minister of Cyprus Harris Georgiades.

Talking on “RIK” television, Mr. Georgiades said that in all his dealings with the troika and large investment funds, he has sent the message that this abeyance is not equivalent to the derailment or suspension of the wider effort for the reform and reorganisation of the economy.

Mr. Georgiades also expressed the view that through approaches based on logic, solutions must be found to ensure the rights of all and to simultaneously allow the disbursement of the next tranche.

“It is a fact that unless the matter with the Law on disposals of property is resolved, the OK for the disbursement of the next tranche will not be given”, said the Finance minister of Cyprus.