“Cyprus is a success story” was the exact term used by IMF spokesman Gerry Rice on Thursday to describe the island republic’s economic recovery, almost three years after its sovereign debt financial meltdown.

He added that a recent return to growth shows that the efforts undertaken to implement difficult reforms are beginning to pay-off, according to the Cyprus News Agency.

He made the statement in reply to a reporter’s question ahead of another “troika” — “institutions in current Athenian argot — inspection on Cyprus.

“An IMF team is in Nicosia with our European partners discussing with the authorities the policies they can meet for the completion of the eighth review of the Cyprus’ reform program supported by the IMF,” he said, adding:
“the recent return to growth is obviously good news for the country and the Cypriot people”.