SOLID DEBT SERVICE COVERAGE: Debt service coverage from the first lien on lottery revenues deposited into the EETF is ample on both an annual and maximum annual debt service (MADS) basis.
STRONG LEGAL PROVISIONS: Lottery proceeds are constitutionally dedicated to educational purposes and a non-impairment clause guards against changes in the percentage allocation to the EETF that would negatively affect pledged revenues.
In the case of the EETF, the former health minister, Philippos Patsalis asked the London School of Economics to conduct a study, to back his claim that the committee's composition was wrong.
After seeing the study the government approved an amendment to the relevant law by which the line-up of the EETF would consist of technocrats and experts, while there was a provision for consultations with interested parties.
Either way, you'll help the SSC have serviceable components on hand to keep the EETF
"Would the minister inform us, when he will resubmit this very important bill, which would change the composition of the EETF and will remedy the conflict of interest as recorded in the report by the LSE and the Auditor General, since nobody at this stage can ensure that the Cypriot citizen is protected from the high pricing of medicines?" Charalambidou asked in a statement on Monday.
It was intended to change the composition of the EETF because it was deemed that its present composition results in a conflict of interest.