Cyprus gets Eurozone OK for early repayment of IMF…

7 February 2020
591 Views

The euro zone’s bailout fund agreed on Thursday to Cyprus repaying 6.3 billion euros ($6.9 billion) of costly loans from the International Monetary Fund, so that the country can replace them with cheaper loans from the market.

Under the European Stability Mechanism (ESM) deal, Cyprus can pay back the loans it drew from the IMF during the sovereign debt crisis before they expire, but must be ready then to repay the same amount of loans it took from the Eurozone fund.

But the ESM agreed on Thursday to waive this right.

Source: reuters

You may be interested

Confrontation between Dendias & Cavusoglu at the press conference
POLITICS
shares66 views
POLITICS
shares66 views

Confrontation between Dendias & Cavusoglu at the press conference

makis - Apr 15, 2021

Diplomatic etiquette was cast aside in an astonishing joint press conference between Greek Foreign minister Nios Dendias and his Turkish…

Russia suspends flights to Turkey
DEFENCE
shares49 views
DEFENCE
shares49 views

Russia suspends flights to Turkey

Panos - Apr 15, 2021

Russia will restrict flights to and from Turkey from April 15 to June 1 due to a rise in COVID-19…

EU member-states agree to issue Covid-19 travel certificate
GREECE
shares70 views
GREECE
shares70 views

EU member-states agree to issue Covid-19 travel certificate

Panos - Apr 15, 2021

European Union countries today formally agreed to issue Covid travel certificates as a step towards reopening tourism this summer with…

Leave a Comment

Your email address will not be published.