IMF pushes for tougher foreclosures law to tackle NPLs

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IMF pushes for tougher foreclosures law to...
 © BusinessMail 2018
By Stelios Orphanides

The International Monetary Fund (IMF) said that it expects economic growth in Cyprus to pick up at 4 per cent this year and 4.2 per cent next year even as risks related to the high-stock of non-performing loans undermine the economy’s prospects.

“The brisk pace of economic activity is underpinned by ongoing and planned construction projects, and is only partly dented by decelerating private consumption, as households step up loan repayments over time,” the IMF said in a statement on Thursday. “Despite the vigorous upswing, non-performing loans...


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IMF pushes for tougher foreclosures law to tackle NPLs


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