ECONOMY

Cyprus is ‘on track’ with reforms

Cyprus’s international creditors have found that the country’s reform program is on track, the country’s finance minister said on Thursday.

At the culmination of the second review into Cyprus’s financial rescue program, Haris Georgiades said all Cypriot banks have adequately replenished their capital buffers and moved ahead with their restructuring. Public finances, he added, are meeting set targets and reforms are proceeding normally.

He said the government remains committed to fully implementing the bailout’s terms and that no new measures are needed to meet fiscal targets, but warned that Cyprus isn’t yet out of the woods.

[AP]