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Technocrats of Cyprus’ Troika of international lenders – comprising the European Commission (EC), European Central Bank (ECB) and the International Monetary Fund (IMF) – are set to return to Cyprus on January 27 for the completion of its sixth review of island’s economic adjustment programme.

According to an IMG source, the mission will focus on the insolvency framework, described as a “critical priority” for the programme at this stage.

Though preparations for the review will begin on January 27, the technical mission – requiring the presence of the Troika Heads of Missions – will begin once the suspension of the foreclosures legislation expires. The legislation in question, previously scheduled for implementation on January 1, will now come into force on January 31.

“As a result of the suspension of the foreclosures law, some essential requirements for the completion of the review are missing. At this stage first we will have to see the commitments being met and then we will reassess first at the staff level,” the IMF source added.