Loan payments to be suspended for nine months

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Loan payments to be suspended for nine months
 © KNEWS 2020
After over two weeks of discussions between the Ministry of Finance, the Ministry of Labor, the Central Bank, the Association of Cyprus Banks and other financial entities to minimize the impact of coronavirus on the Cyprus economy, white smoke has emerged with all parties agreeing that payoffs for all types of loans are to be suspended for nine months.

The European Banking Authority, in its announcement on Thursday, seems to have also triggered this decision, as it said that any loans with payments past due as a result of the coronavirus crisis will...


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Loan payments to be suspended for nine months


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