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Cyprus signed a loan agreement worth 2.5 billion euros with Russia
Said the Cypriot Ministry of Finance has signed an agreement with Russia for a loan worth 2.5 billion euros to help it refinance debt maturing next year.
The agreement was signed by Deputy Finance Minister Sergei Storchak and the Cypriot Minister of Finance Keckeis Kazamias in Moscow.
The Finance Ministry said in a statement that Cyprus first installment of the loan, which he said finance officials in the past it would be worth 590 million euros will be spent by 31 December.
Cyprus and came actually from the international capital markets since May, due to higher interest on their debt after the current credit ratings cuts because of failure to achieve financial goals and Cypriot banks' exposure to Greece, which is facing a crisis.
Etc. and will provide a boost of the loan value of 1.32 billion euros and another $ 590 million euros by the end of March.
The Cypriot government officials have said earlier that the loan would be paid in four years and a half year interest rate of 4.5 percent
Said the Cypriot Ministry of Finance has signed an agreement with Russia for a loan worth 2.5 billion euros to help it refinance debt maturing next year.
The agreement was signed by Deputy Finance Minister Sergei Storchak and the Cypriot Minister of Finance Keckeis Kazamias in Moscow.
The Finance Ministry said in a statement that Cyprus first installment of the loan, which he said finance officials in the past it would be worth 590 million euros will be spent by 31 December.
Cyprus and came actually from the international capital markets since May, due to higher interest on their debt after the current credit ratings cuts because of failure to achieve financial goals and Cypriot banks' exposure to Greece, which is facing a crisis.
Etc. and will provide a boost of the loan value of 1.32 billion euros and another $ 590 million euros by the end of March.
The Cypriot government officials have said earlier that the loan would be paid in four years and a half year interest rate of 4.5 percent
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