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Cyprus welcomes ‘positive’ Moody’s comments

The government has welcomed a positive statement buy Moody’s credit rating agency on Cyprus’ return to the international markets.

Through this development “the Republic of Cyprus has managed to reduce liquidity risk and has improved debt repayment plan to a significant extent,” Deputy Government Spokesman Victoras Papadopoulos in a written statement.

“According to Moody’s these two objectives contribute significantly to the Government’s strategy to restore the economy’s credibility,” he added.

Cyprus’ return to international markets is attributed, according to the credit rating agency, to financial discipline and the achievement of better financial results than what was projected, which if continued could lead to the improvement of economic conditions in the country, he said.

 

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