Cyprus Repays Crisis-Era IMF Loan ahead of Schedule

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Cyprus Repays Crisis-Era IMF Loan ahead of...
 © The National Herald 2020
NICOSIA – Cyprus has paid off ahead of schedule an International Monetary Fund loan that was part of a multi-billion euro financial rescue deal in 2013, the finance minister said Tuesday.

Minister Constantinos Petrides said the loan’s early repayment would bolster the country’s credibility in the eyes of investors and improve its ability to raise money directly from international markets.

Cyprus managed to repay the loan thanks to a pair of low-interest bond issues. It secured 1 billion euros from a 10-year bond issued at a 0.73%...


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Cyprus Repays Crisis-Era IMF Loan ahead of Schedule


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Article Tags: cyprus, repays, crisis, ahead, schedule,