Cyprus’s banking sector is getting back to some semblance of normality following the 2013 banking crisis, but it still has some way to go before it is returned to full health.
A joint statement issued by the 'Troika' of the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF) in November 2015 on Cyprus’s economic reform programme, including its progress on restoring financial stability, neatly summed up the improving situation. Teams from the three institutions visited Nicosia to see how the programme – which is supported by financial assistance from the European Stability Mechanism and the IMF – was faring.
