(+357) 26 818 680 HOME PROJECTS INVESTMENT OPPORTUNITIES ABOUT US CONTACT US A.G & G LUXURY HOMES BLOG POSTS IMF HAILS CYPRUS DECISION. POSTS MAR 08 IMF hails Cyprus decision. Author:pwsadmin Categories:Blog Posts Washington (AFP) – International Monetary Fund chief Christine Lagarde praised Monday Cyprus’s decision to end its bailout program two months early after the Eurozone country regained its financial footing. The IMF’s part of the IMF-European Union rescue program was due to expire on May 14. Cyprus also ended its loan program with the European institutions slightly early; it was supposed to expire this month. In March 2013, after its banking sector collapsed, Cyprus negotiated a 10-billion-euro ($13 billion at the time) aid program from the IMF, the European Commission and the European Central Bank. In exchange, the so-called troika of international creditors demanded the government undertake tough austerity measures and restructure the banking system, which was widely exposed to Greece’s debt. Lagarde said she had received a letter from Harris Georgiades, the Cypriot finance minister, informing her of the government’s decision to cancel the loan arrangement, effective March 7. “I wish to congratulate the people and the Government of Cyprus on their accomplishments under the economic adjustment program, which has delivered an impressive turnaround of the economy during the past three years,” Lagarde, the IMF managing director, said in a statement. “The banking system is on a much more solid footing and workouts of nonperforming loans are accelerating, opening space for new productive lending,” she noted. “The fiscal position has been restored to a sustainable path, and public debt is now firmly on a downward trajectory,” she added, pointing out the Eurozone country had regained access to international capital markets and successfully issued three Eurobonds during the past 21 months. Link: http://news.yahoo.com/imf-hails-cyprus-decision-cut-short-bailout-program-211500429.html Share this post Tags:Roundup Comments (0) Leave a Reply You must be logged in to post a comment. Connect with: SEARCH Property Location Any Built-up area (M 2) INPUT 1 100+ Property type Any Land area (M 2) INPUT 1 — 100+ Price (€) INPUT 100 — 100m+ Bedrooms INPUT 1 — 100+ RESET SEARCH NEWS Cyprus Natural Gas SAT - 4 JUN - 10:39 AM Exploration for oil and gas offshore the Republic of Cyprus is in a developing phase. A considerable amount of geophysical… READ MORE Cyprus ranks 1st among smaller Countries. TUE - 22 MAR - 11:17 AM Out of 106 countries that generate enough data to run a study about the safest countries in the world, Cyprus… READ MORE IMF hails Cyprus decision. TUE - 8 MAR - 11:14 AM Washington (AFP) – International Monetary Fund chief Christine Lagarde praised Monday Cyprus’s decision to end its bailout program two months… READ MORE POPULAR ESTATES Downtown Park Block A – 104 Kato Paphos, Paphos €285,000 /+V.A.T Thaleia Residences – 202 Kato Paphos, Paphos Price Upon Request Thaleia Residences – 102 Kato Paphos, Paphos Price Upon Request ABOUT A. G & G LUXURY HOMES was established in 1978 and ever since it has grown to be one of the most trusted and credible names in the property market in Paphos, Cyprus. Andreas Georgiou assures that its exceptional services are based on Quality, Commitment, Reliability, Value for Money and Morality. CONTACT 25th March Str. , 8047 Pafos - Cyprus info@agcyprus.com Tel: (+357) 26 818 680 Fax: (+357) 26 221 033 www.agcyprus.com GET IN TOUCH We appreciate your feedback E-MAIL MESSAGE FOR US LATEST NEWS The Cyprus Property Market & More Cyprus Natural Gas SAT - 4 JUN - 10:39 AM Cyprus ranks 1st among smaller Countries. TUE - 22 MAR - 11:17 AM IMF hails Cyprus decision. TUE - 8 MAR - 11:14 AM MORE ARTICLES A. G & G Luxury Homes © 2019 All Rights Reserved - Powered by Cyprus Webs