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International creditors back for 4th evaluation of Cyprus' bailout
Reported by: Associated Press
Reported: Tuesday, May 6, 2014 4:34 AM EDT
International creditors are back in Cyprus to measure the country's progress in implementing the terms of its 10 billion euro rescue.
Key areas that creditors will focus on will be the health of banks which are grappling with a large number of bad loans, as well as progress in pushing through structural reforms.
The bailout agreed in March last year hit Cypriot banks hardest after mandating a raid on uninsured deposits in the two largest banks. The move prompted the government to impose strict capital controls on the banking sector. Most have now been lifted.