The upcoming Tuesday marks the beginning of the 16th post-memorandum review of the Cypriot economy, concluding on Friday. This examination, conducted by Cyprus's lenders, will provide a thorough assessment of the island's financial health.

This review will encompass various aspects including public finances, economic prospects, challenges, and the status of the financial sector. The meetings with Cypriot authorities will focus on fiscal and financial situations based on the results of 2023. Additionally, challenges arising from geopolitical tensions (the war in Ukraine and the Hamas-Israel conflict), and potential repercussions from disruptions in free navigation due to Houthi attacks in the Red Sea, will be scrutinized.

The scrutiny will also extend to developments in energy and healthcare sectors.

Technocrats from the European Commission, the European Central Bank, the European Stability Mechanism, and the International Monetary Fund are participating in this assessment. It is important to note that these biannual reviews continue until 75% of the financial aid, amounting to €6.3 billion to the ESM, is repaid. Cyprus repaid its IMF loan (€1 billion) in February 2020.