NICOSIA – Cyprus has paid off ahead of schedule an International Monetary Fund loan that was part of a multi-billion euro financial rescue deal in 2013, the finance minister said Tuesday.
Minister Constantinos Petrides said the loan’s early repayment would bolster the country’s credibility in the eyes of investors and improve its ability to raise money directly from international markets.
Cyprus managed to repay the loan thanks to a pair of low-interest bond issues. It secured 1 billion euros from a 10-year bond issued at a 0.73% rate. A 20-year issue raised 750 million euros at 1.33%. The bonds were seven times oversubscribed, a record for the country, Petrides said.
“This demonstrates the depth of trust that international markets show toward Cyprus’ economy,” Petrides said in a statement.
The minister said the bond issues cover most of Cyprus’ financing needs for the year and save the country 15 million euros in interest payments on the IMF loan.
NICOSIA — The Cyprus government and U.
FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.
WASHINGTON (AP) — Rep. George Santos of New York is facing a critical vote to expel him from the House on Friday as lawmakers weigh whether his actions, fabrications and alleged lawbreaking warrant the chamber's most severe punishment.
MANCHESTER, England (AP) — After a record-breaking start as Tottenham manager, Ange Postecoglou is experiencing the other side to life in a job that has proved too much for some of the biggest names in soccer.
WASHINGTON (AP) — The House voted on Friday to expel Republican Rep.
WASHINGTON (AP) — Retired Supreme Court Justice Sandra Day O’Connor, an unwavering voice of moderate conservatism and the first woman to serve on the nation’s highest court, died Friday.
He wasn’t the first one to think about it but a humor columnist for POLITICO suggested - ironically, of course - that if Greeks want back the stolen Parthenon Marbles in the British Museum that they should just steal them back, old boy.
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