Tags: EU | Cyprus | Bailout

IMF Makes Another $137m Available for Bailed-out Cyprus

Wednesday, 27 January 2016 01:44 PM

NICOSIA, Cyprus (AP) — The International Monetary Fund says it has made another 126.3 million euros ($136.87 million) available to Cyprus after completing what it said was its second-to-last review of the Eurozone country's rescue deal.

The IMF said Wednesday the amount brings to 1 billion euros ($1.1 billion) its share of disbursements to the 10 billion euro bailout that forced a grab of uninsured deposits in Cyprus' two largest banks and shuttered the smaller lender.

Senior IMF official Mitsuhiro Furusawa said Cyprus has made much progress under the three-year program, but sticking to reforms and keeping spending in check are necessary to reduce the huge number of bad loans and large public debt.

Cyprus' Finance Minister Harris Georgiades said Monday the country is on track to exit the program on time this March.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
Europe
The International Monetary Fund says it has made another 126.3 million euros ($136.87 million) available to Cyprus after completing what it said was its second-to-last review of the Eurozone country's rescue deal.The IMF said Wednesday the amount brings to 1 billion euros...
EU,Cyprus,Bailout
133
2016-44-27
Wednesday, 27 January 2016 01:44 PM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved