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1. Officer injured in clash outside foreclosed property

The owner of a foreclosed property in Paphos was arrested on Thursday following an altercation outside an apartment complex, where a female police officer was injured...

2. Cyprus gets taste of EU’s €85 million with a caveat

Cyprus will get Friday the first tranche of €85 million from the EU's Recovery and Resilience Mechanism, with European Commission technocrats also pointing to repeated suspensions of foreclosures in Cyprus that create problems in terms of achieving the goal of further reduction of NPLs...

3. 14 billion euros of loans on ice due to the suspension of foreclosure sales

In Cyprus, credit purchasing companies manage over 80,000 loans totaling €20 billion....

4. The consequences of continuing foreclosure suspensions

Lambros Papadopoulos, President of the state-owned asset management company, KEDIPES, warned on Tuesday that the continued suspension of foreclosures will negatively affect the company’s revenue from non-performing loans (NPLs) management resulting in a reduced repayment of state aid....

5. 'The suspension of foreclosure sales is tragic for the country'

Bank of Cyprus CEO Panicos Nicolaou described Cyprus's decision to extend the suspension of divestments as "tragic."...

6. President defers foreclosure mess to attorney general

Cypriot President Nicos Anastasiades has refused to veto legislation that suspends foreclosures yet again until February 2023, essentially calling on the attorney general to examine the constitutionality of the bill as the issue on the presidential election campaign trail continues to heat up...

7. Finance Minister calls for the repeal of foreclosure suspension

The Ministry of Finance proposes delaying the law on divestiture suspension. ...

8. Foreclosures on primary residences suspended until February 2023

The Association of Credit Acquisition Companies and Credit Facilities Managers (SEDP) announced on Thursday the suspension of foreclosures on the primary residences of vulnerable borrowers until February 2023. ...

9. Looking for a strategy to suspend foreclosure sales

To protect vulnerable borrowers and stop the economy from being impacted by decisions that could harm its integrity, a strategy for the new potential three-month suspension of foreclosure sales is being sought. ...

10. Wim Van Aken talks recession and the predictions for Cyprus

We are facing a double shock. First, we had the Covid-19 shock and now the global and European economies are facing a new shock with the war in Ukraine. Both events are unprecedented for many of us....

11. President signs controversial foreclosure law

A controversial foreclosure bill has been signed into law in the Republic of Cyprus over the objection of the country’s finance minister who accused lawmakers of populism...

12. Cypriot minister lashes out at ‘populist’ lawmakers

Cypriot Finance Minister Constantinos Petrides lashed out at lawmakers on Tuesday warning against “dangerous and unrestrained populism” after members snubbed a presidential veto on three crucial pieces of legislation...

13. Foreclosures suspended until the end of October 2022

The Cyprus Parliament on Thursday passed a bill suspending foreclosures until the end of October,...

14. Slashed tires slow down finance minister

The tires of a vehicle belonging to the Cypriot finance minister were slashed over weekend, with police saying they were investigating the incident...

15. Cacophony emerges as Cyprus stalls foreclosure bills

The finance ministry in the Republic of Cyprus is scrambling for new ways to overcome an awkward impasse on two crucial foreclosure bills, after opposition parties blamed the administration for not doing enough to have the European Commission go along with amendments to protect bad loan guarantors...

16. 'The Cypriot economy must be diversified'

An International Monetary Fund (IMF) mission met virtually with the Cypriot authorities on March 11–28, 2022 to discuss recent economic developments and policy priorities....

17. Debt sustainability in all Member States

ESM Managing Director Klaus Regling strongly believes that public debt is currently sustainable in all Member States of the monetary union. ...

18. ECB tells Cyprus lawmakers to get it right

Elizabeth McCaul, Member of the Supervisory Board of the ECB, advised caution over possible amendments to the Cyprus foreclosure law stressing that 'such policies can also backfire and destabilize the banking sector if designed in a haphazard manner'...

19. IMF: Withdrawal of support measures should be gradual

An International Monetary Fund (IMF) mission met virtually with the Cypriot authorities from March 8–29, 2021 to discuss recent economic developments and policy priorities on the island. In an interview with Kathimerini Cyprus, IMF mission chief for Cyprus, Anita Tuladhar, said the longer the recovery period in sectors related to tourism, the greater the chance that permanent scars will remain in the economy of Cyprus. Tuladhar also noted the importance of state-sponsored programs to support the economy....

20. Vaccinations 'main economic tool' in managing Covid crisis

Vaccinations have turned into the main economic tool for the management of the coronavirus crisis and the prospects for recovery, Minister of Finance Constantinos Petrides said, stating that he foresees a strong recovery in 2021 ranging from 3.5% to 4.5% of GDP, depending on the development of the pandemic....

21. MPs vote on budget hanging by a thread

The House takes another vote on the state budget on Thursday, with representatives expected to pass the bill narrowly following behind-the-scenes consultations since the first time it was rejected in mid-December...

22. Blame game in full swing after budget vote

The government in the Republic of Cyprus faced an unprecedented challenge on Thursday, after failing to pass a 2021 budget in the House, with lawmakers approving stopgap measures to keep making payments for the next couple of months...

23. State budget battles rage on in Cyprus

Ruling party DYSI has been mounting a campaign over the last 24 hours to secure votes to pass the state budget, which is up in the air over golden passport probe wars, with added pressure also causing rifts even within smaller parties...

24. House passes bills mitigating pandemic repercussions

The House on Friday approved a wide array of bills, passing into law a wide array of bills seeking to keep Cyprus afloat as it is making its way through the first wave of the coronavirus pandemic....

25. State suspends foreclosures for 3 months, requests 10% reduction in electricity fees

The government on Wednesday agreed to request from the Cyprus energy regulatory authority a 10% cut on electricity usage charges for a period of three months, in view of providing some breathing space as the island traverses the Covid-19 health crisis....

26. CITR Cyprus calls for modern insolvency rules

27. Moody's changes Cyprus outlook to positive

Rating agency Moody’s changed the outlook for the Cypriot economy to positive from stable, citing the reduction of the sovereign exposure to event risks stemming from the banking sector and the improving fiscal strength beating previous expectations...

28. Foreclosure legislation unconstitutional

The latest piece of legislation on foreclosures which was approved last Friday is unconstitutional...

29. Finance Committee seeks compromise on foreclosures

The House of Representatives Finance Committee meets on Friday to discuss proposals that would normalize the legislative framework on foreclosures...

30. S&P affirms Bank Of Cyprus ratings

Standard & Poor’s affirmed on Tuesday their `B+/B` long- and short-term issuer credit ratings on Bank of Cyprus Public Co. Ltd. (BoC), noting that the outlook is stable...