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IMF hails strengthening economic recovery

August 9, 2019

first_imgThe International Monetary Fund said Friday it welcomes Cyprus’ economic recovery and the prudent macroeconomic policies, as the island seeks consent for early repayment of part of the bailout loan it received from the IMF.“We welcome the strengthening economic recovery and generally prudent macroeconomic policies, as reflected in favourable financial market conditions, that have enabled Cyprus to take this step,” Vincenzo Guzzo, IMF’s representative in Cyprus told the Cyprus News Agency.Finance Minister Harris Georgiades said Thursday the cost of a significant part of the €280m IMF loan was higher than the cost the Republic would incur if it borrowed from international markets, after a drop in yields.He said there was a difference of 0.5 per cent and therefore it would make sense to repay early part of the loan Cyprus has received by the IMF, in the framework of the adjustment programme.The cabinet, he added, has authorised him to start consultations with the IMF and the European Support Mechanism to get their consent.You May LikeClassmates.comLook For Any High School Yearbook, It’s FreeClassmates.comUndoFigLeaf Beta AppHow to Become Fully Anonymous Online in Less Than 3 Minutes? Better safe than sorryFigLeaf Beta AppUndoTruthFinder People Search SubscriptionOne Thing All Liars Have in Common, Brace YourselfTruthFinder People Search SubscriptionUndo Concern over falling tourism numbersUndoAuthorities release five of 12 Israeli rape suspects, seven due in court FridayUndoPensioner dies after crash on Paphos-Polis roadUndoby Taboolaby Taboolalast_img

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