The Cyprus government has announced the appointment of a "commissioner for privatisations" to oversee the denationalisation of several state-owned enterprises, including the Cyprus Telecommunications Authority and the Electricity Authority of Cyprus.
The privatisation of semi-government organisations and state-owned enterprises was a condition of international financial support. The government is required to raise at least €1billion from privatisations by the end of its economic adjustment programme and an additional €400 million by 2018, and to use the proceeds to reduce the national debt.
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