Cyprus Mail
Cyprus

ESM to ratify Cyprus’ next tranche

Finance Minister Harris Georgiades

The European Stability Mechanism (ESM) is expected to ratify the disbursement of the €350 million sixth tranche of Cyprus` bailout programme, at Monday’s meeting of the Eurogroup in Brussels.
Finance Minister Harris Georgiades is participating in the meeting.
According to CNA sources, the disbursement of the next tranche of €350 million to Cyprus from the ESM will be ratified, while an additional €86 million is expected to be disbursed by the IMF. Georgiades said that receiving the tranche was important in view of the large payment of salaries by the end of the year.
Monday’s Eurogroup meeting is also considered crucial for Greece, since EU finance ministers are expected to decide an extension of the country`s bailout programme by six months.
The bailout extension is considered necessary by the country’s lenders in order to secure the proclaimed preventive credit line after the bailout ends and return to market financing



Related posts

Coronavirus: 12 new cases detected on Sunday (Update)

Evie Andreou

2021 bookings up but too many uncertainties

Bejay Browne

Scores booked during road safety campaign in Paphos

Evie Andreou

Christodoulides calls on sides in Nagorno-Karabakh hostilities to show restraint

Evie Andreou

Coronavirus: the Cypriot behind the lab-free 90-minute test

Nick Theodoulou

Cyprus trapped over Belarus

Elias Hazou

44 comments

Comments are closed.