Cyprus Mail

IMF approves next tranche of aid for Cyprus (updated)

€100m is also expected to be paid out by the International Monetary Fund

The Executive Board of the International Monetary Fund on Friday approved the disbursement of the next tranche of financial assistance to Cyprus of around €83.3 million

This disbursement brings total disbursements under the arrangement to €333.2 million of the IMF arrangement`s total €1billion.

The approval was preceded by the positive report of the IMF Mission Chief for Cyprus Delia Velculescu and the positive stances of the members of the Board.

“The programme is intended to stabilise the country’s financial system, achieve fiscal sustainability, and support the recovery of economic activity to preserve the welfare of the population,” the IMF said in a news release.

Related posts

Greece and Cyprus call for EU help over immigration

Jean Christou

Teaching unions threaten work stoppages next week

Evie Andreou

UN will continue to be guided by relevant Security Council resolutions on Varosha

Source: Cyprus News Agency

Municipalities squabbling over waste management fees

Elias Hazou

Free scuba diving for the disabled

Staff Reporter

MPs press state services over child protection after teen suicide

Evie Andreou


Comments are closed.