Troika reviews Cyprus bailout

CYPRUS has met targets for its bailout so far, despite an uncertain outlook, according to yesterday’s review by the Troika of lenders.

The statement, issued by the International Monetary Fund (IMF), European Commission and European Central Bank (ECB), suggested that good progress was being made toward the conditions on Cyprus’ €10bn (£8.76bn) bailout.

If the review is approved in September, the ECB and commission will extend €1.5bn of the package to the Cypriot government, while the IMF will extend €86m.