The troika heads of mission in
A draft of the updated MoU had been handed over to the government over the weekend.
The top-level negotiations were expected to continue today. The troika mission, in
Public broadcaster CyBC reported that a deal has been struck on the broad strokes of the programme for denationalising certain state-owned enterprises.
The privatisation plan is aimed at raising at least 1bn billion by the end of the programme period (2016) and an additional 400m by 2018 at the latest.
The government will use the cash to pay down a 10bn rescue package, agreed last March to bailout the bankrupt state.
The finishing touches are being placed on privatisation-related legislation, which will be presented to the Cabinet today or tomorrow for approval and then forwarded to parliament, the same report said.
Online news portal Stockwatch reported meanwhile that an agreement is imminent on managing banks' non-performing loans (NPLs) in relation to mortgage debt.
The troika insists on legislation allowing for foreclosures and private auctions of property being passed by the end of April.
Foreclosure actions by banks would begin 18 months after passage of the legislation, but foreclosures of primary residences would be given a greater grace period, of 30 months.
NPLs an open sore in the banks' balance sheets that could sap their equity unless loans are not recovered stand at a staggering 24bn, recently released data has shown.
Around 10bn of this debt concerns household loans, of which 3.2bn is held in thousands of owner-occupied dwellings.
The data also reveals that around a third of debt linked to owner-occupied dwellings is not being properly serviced.
Citing its sources, Stockwatch reported also on an agreement sparing the
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