Government posts a €19m fiscal gap in Q2
The government generated a fiscal deficit of €18.7 million in the second quarter of 2018 compared to a shortfall of €86.5m in the respective...
Stelios Orphanides
NPLs were not the cause of the Co-op’s failure, former boss says
A former director of the Central Cooperative Bank, the predecessor of the failed state-owned Cyprus Cooperative Bank, said the Co-op’s situation with delinquent loans was...
Expected ECB rate hike, strong investor interest increased government’s bond appetite
By Stelios Orphanides The decision to go for a €1.5bn bond issue instead of the initially planned €1bn was dictated by a combination of factors,...
Mammoth bond allows government to tap €1.5bn at 2.4%
The government on Tuesday issued a €1.5bn European Medium Term Note with a ten-year maturity with a coupon rate of 2.375 per cent and a...
Central Bank says S&P upgrade allows participation in ECB purchase programme
By Stelios Orphanides The Central Bank of Cyprus said that following the upgrade of Cyprus’ sovereign credit rating to BBB- by Standard and Poor’s, Cypriot...
Government to issue 10-year €1bn euro bond
The government aims to capitalise Friday’s upgrade of its sovereign rating to investment grade by Standards & Poor’s with the issue a €1bn 10-year bond,...
S&P upgrades Cyprus to BBB-, back to investment grade (Updated)
The upgrade of Cyprus’ sovereign rating back to investment grade by Standard & Poor’s after rating it junk for more than six years justifies...
Nouy’s ‘non’ stuns committee probing Co-op failure
By Stelios Orphanides The chairwoman of the European Central Bank’s (ECB) Single Supervisory Mechanism (SSM) Daniele Nouy will not testify at the committee probing the...
NPLs up by €14m in May, Central Bank says
Non-performing loans in the Cypriot banking system rose by €13.9m in May, to €19.9m, compared with April, mainly on households failing payments, the Central...
Cabinet passes budget, slashes defence levy (Updated)
By Stelios Orphanides The cabinet on Thursday approved the 2019 budget and the budgetary framework over the next three years, including a reduction of the defence...
