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30 March, 2020
 
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Cyprus repays an IMF loan early, saving €13.4 million

Total repayment amounted to €716,67 million, which the FinMin said is a strong indication of the island's economy

Newsroom / CNA

The Republic of Cyprus fully repaid on Thursday an International Monetary Fund (IMF) loan, which had been granted to the country in the period 2013-2016.
 
According to a written statement from the Ministry of Finance, the total repayment amounted to  €716,67 million.

The early repayment of the loan, combined with its financing through a 20-year bond with an interest rate of 0.625%, is expected to yield to the Republic of Cyprus total savings of €13.4 million over the period 2020-2025.
 
"This transaction has been positively valued by international investors, as a strong indication of the momentum of the Cypriot economy in recent years," the statement said.

TAGS
Cyprus  |  IMF  |  loan  |  economy

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