The creditors predicts the island will return to growth in 2015, but Rehn acknowledged the projections involved a bit of guesswork, given the country's harsh adjustment measures.
"There is plenty of uncertainty about the exact trajectory of economic growth in Cyprus — it will depend on many things, starting with the effective implementation of all the program — and relating to the stabilization of the financial system, and the overall national economy," Rehn said.
"So at this stage we do our best, and have done it as thoroughly as we can," he said.
The meetings in Dublin will continue on Saturday.
Associated Press writer Juergen Baetz in Brussels contributed reporting.
Don Melvin can be reached at https://twitter.com/Don_Melvin
Juergen Baetz can be reached at http://twitter.com/jbaetz