IMF freezes funds, troika mission uncertain, Georgiades lashes at opposition (updated)

By Stelios Orphanides

The troika may delay its next mission to Cyprus scheduled for January 27, to evaluate Cyprus’s progress in implementing its economic and financial reform programme following yesterday’s parliament vote, the Cyprus News Agency reported citing an unnamed troika official.

Earlier, the International Monetary Fund, which together with the European Commission and the European Central Bank comprises the troika that supervises bailouts in the euro area, said it will not release the next tranche of bailout money earmarked for Cyprus, Reuters reported today citing the IMF.

International lenders expect explanations from the Cypriot government over how it will manage the crisis, CNA reported adding that the vote angered some euro area members while the parliaments of certain countries of the common currency bloc, which made funds available for Cyprus’s bailout, demanded explanations from the European Commission.

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The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.