Brussels, 17/09/2013 (Agence Europe) - On Monday 16 September, the International Monetary Fund welcomed a positive assessment of implementation by Cyprus of a structural adjustment programme, paving the way for payment of aid of €84.7 million. The IMF, however, highlighted that: “Risks to the program remain substantial, leaving no room for implementation slippages. Continued strong ownership, including steadfast policy implementation, is critical for the program's success”. Welcoming Cypriot action to restore viability in the banking sector, the IMF director general, Christine Lagarde, said: “The authorities need to implement carefully the measures included in their recently published roadmap, based on achieving specific milestones in the banking sector strategy, while maintaining sufficient flexibility in the event of unanticipated developments”. The IMF explains: “Cyprus is on track to meet its 2013 fiscal targets, thanks to the significant consolidation underway and prudent budget execution. Given still high macroeconomic uncertainty, continued fiscal prudence is called for”. On Monday, the IMF's management board approved the payment of an aid instalment of €1.5 billion, which will be disbursed by the end of the month. (EL/transl.fl)