IMF Authorizes Cypriot Bailout
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
-
Cavusoglu: “Cyprus is our national issue” – A Federation solution is no longer appropriate
-
IMF revises forecast for Greek econ growth in 2023 to 2.6%, up from 1.8%
-
The designs of the new Deputy Shipping Minister for Cypriot shipping
-
Ankara accepted Cyprus' offer to send a rescue team
-
Turkey targets Greek islands and Cyprus gas field