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

Bids submitted for new Polis road as row rumbles on

Gina Agapiou

Bicommunal rally calls for resumption of Cyprus talks

Peter Michael

Bill proposes to strip passports from those who recognise state in north

George Psyllides

Thoc to continue sponsorships

Evie Andreou

Ancient shipwreck in Dreamer’s Bay confirmed by Antiquities Department

Nick Theodoulou

10-year-old dies after being hit by car (updated)

Gina Agapiou


Comments are closed.