IMF Authorizes Cypriot Bailout
- Written by Maria Athens
The International Monetary Fund has authorized an additional 126 million euros to Cyprus.
The IMF confirmed that the nation's reform path has remained "a success." In total, the island has received an approximated 882 million euros, while an additional 9 billion euros is being granted by the European Union's bailout revenues.
The IMF's Deputy Managing Director Mitsuhiro Furusawa confirmed that the Cypriot economy has performed much better than was predicted, in the first six months of 2015.
However, Furusawa cautioned that additional endeavors need to occur, concerning poor quality loans, spending, and the acceleration of privatizations.
(Source: AP)
Tagged under
Related items
-
PM Mitsotakis stresses need to speed up EU's vaccines approval process
-
Turkish foreign minister heralds meeting with Greek counterpart
-
Dendias: Turkey's stance a provocation for all of Europe
-
Joint exercise with Greece, Egypt, France, the UAE, and Cyprus (vid)
-
Ankara did not like the EU sanctions resolution