Eurogroup Plans Cyprus' Next Bailout
It has been reported by a leading Euozone delegate, that Eurogroup is set to confirm Cyprus' next bailout in July.
As reported by Parikiaki, the premier commented that the island's rescue program is fluid, on the right path, and is being properly implemented. Yet, challenges remain, including non-performing loans.
The discussed aid package is set at 600 million euros and will be granted in July, while 100 million euros will be offered from the International Monetary Fund. The nation continues to adhere by a three-year economic adjustment program. In March 2013, Cyprus gained a 10 billion euro bailout from international lenders.
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