Cyprus Repays Remainder of Russian Loan Two Years Early

Cyprus’ finance minister said on Monday that the country has repaid ahead of schedule the remaining 1.58 billion euros ($1.73 billion) of a 2.5 billion euro ($2.74 billion) loan it received from Russia in 2011 amid a brewing financial crisis.

Harris Georgiades told The Associated Press on Monday that the repayment has been completed fully two years in advance without Cyprus incurring a penalty thanks to an early payback clause.

Cyprus received the loan with a 2.5 percent interest rate to buoy its economy as its banking system faced a meltdown...


This article was automatically added to our system 4-9-2019

Cyprus Repays Remainder of Russian Loan Two Years Early


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