Cyprus raises €1.75 bln to pay off debts

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Cyprus raises €1.75 bln to pay off debts
 © FinancialMirror 2020
Cyprus has paid off early an International Monetary Fund loan that was part of a €10 bln rescue package in 2013 from lenders to save the island’s banking system, with analysts praising the government for a fiscally sound bond issue.

Finance 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.

“Our target is to secure our country’s stability and growth perspective,” Petrides said in a statement.

Cyprus was able to repay the loan via a...


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This article was automatically added to our system 18-1-2020

Cyprus raises €1.75 bln to pay off debts


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