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Weak laws, payment culture to blame for high NPLs, officials say
© Business Mail | Weak laws, payment culture to blame for high NPLs, officials say

Loan repayment culture in Cyprus is bad and the legislation in place is doing little to improve it even as it is threatening financial and macroeconomic stability, was the main conclusion of a recent panel discussion.
Explaining the high level of non-performing loans (NPLs) with weak lending practices is “not the whole story,” said Vincenzo Guzzo, the representative of the International Monetary Fund in Cyprus (IMF), at a discussion organised by the Cyprus Economic Society in Nicos….. Read More On: Business Mail

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