#debt

For three decades, European policymakers operated under a comforting illusion: sovereign debt crises were peripheral disruptions confined to the southern periphery – Greece, Ireland, Portugal and Cyprus. The euro crisis of 2010...

Sovereign debt distress across North America, Europe and Japan marks the terminal phase of a multi-decade debt cycle hitting an arithmetic wall. Compounding deficits – amplified by post-2008 quantitative easing, pandemic ...

During the administrations of the governments of Nicos Anastasiades and Nikos Christodoulides praise has been heaped on the economic performance of Cyprus by referring to statistics on its relatively rapid ...

Cyprus’ state debt to public funds has reached €12.8 billion at the start of this year, up from €11.3 billion at the beginning of last year, the ministry of labour reported to ...

The former mayor of Strovolos denied on Thursday that he saddled the municipality with millions in debt on leaving office, as he and the current municipality continued trading barbs on ...

The top tax official will on Wednesday give wayward football clubs one last chance to comply with their obligations or else, reports said on Tuesday. Tax commissioner Soteris Markides will ...

Four football clubs are racing against time to pay off their social insurance debts to the state, but Monday’s deadline is proving difficult to meet. The clubs collectively owe ...

The Nicosia District Court on Wednesday postponed the hearing of the case of football club Apoel’s owings to the social insurance and other funds. The case hearing had been ...

Newspapers reported earlier this week that the Tax Department was, at long last, preparing cases against four football clubs for unpaid tax debts. The reports, which named the four clubs, ...

The finance ministry on Tuesday sent a letter to football clubs participating in the debt repayment scheme, urging them to settle their debts to the state, totalling €35.6 million, which were ...

Turkish Cypriots’ credit card debt doubled within the space of a year between June 2023 and June this year, according to figures released by the north’s central bank on Tuesday. ...

Rule of law that is applied selectively is not rule of law. It is a form of authoritarianism in which the state decides who is allowed to break the law ...

El-Sen, the employers’ union of the north’s electricity authority Kib-Tek, announced on Saturday night they had filed a complaint to the Turkish Cypriot police after police had prevented them ...

Famagusta’s Eastern Mediterranean University (EMU) currently has a tax debt of 3.2 billion TL (€92.8m), the north’s ‘finance minister’ Ozdemir Berova said on Monday. He was speaking during a ...

Kib-Tek, the north’s electricity authority, is in 805 million TL (€27.4 million) of debt, it was announced by the north’s ‘government’ on Thursday night. The debt is owed to Turkish ...

By Les Manison Newly elected President Nikos Christodoulides promised in his campaign that his government would be one of “broad social acceptance”. For the economy this should mean a situation ...

Disposition made with intent to defraud a creditor is deemed to have been made fraudulently and may be set aside by a court order The court can set aside disposition ...

Dealing with your creditors through negotiation is the process of debt settlement or debt resolution. You have two options: either do it yourself or hire a firm to do it ...

At the end of the fourth quarter (Q4) of 2021 government debt to GDP ratio in Cyprus was 5.4 percentage points lower compared to Q3 of 2021, and 11.4 percentage points lower than at ...

The government’s cash reserves amounted to €3.84 billion at the end-2020, approximately 20 per cent of the island’s GDP, despite pressure on both public finances and the economy due to ...